Fleet News

Pre-Budget Report 08: PBR becomes an emergency budget

The chancellor Alastair Darling’s Pre-Budget Report (PBR), which has been “leaked like a sieve”, is predicted to contain several measures to help the fleet industry through the difficulties ahead.

Fleetnews.co.uk will have full coverage of the chancellor's report - as it happens - as well as immediate industry comment.

The PBR was introduced by Gordon Brown in 1997 to add “predictability and stability” by informing businesses of the chancellor’s intentions in the following spring’s Budget.

However, because of this year’s financial crisis, the chancellor is expected to use the PBR to introduce immediate measures such as a reduction in VAT, which will effectively make this an emergency mini-Budget.

CBI president Martin Broughton said businesses were dependent on the chancellor’s financial tactics.

He also said he was disappointed that the treasury appears to be “leaking like a sieve”.

Coverage of the PBR on fleetnews.co.uk will start from 3:30pm today.

 


 

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