Prime Minister Hints at Forthcoming Tax Cuts
10/11/2008
Prime Minister Gordon Brown has spoken on breakfast TV show GMTV about potential forthcoming tax cuts.
Mr. Brown implied that the pre-budget report - which is due out in the next few days - will contain plans for tax cuts to help people through the economic downturn.
After stating that petrol duty had been frozen and people were already getting £120 back in their income tax following the 10p tax controversy, Mr. Brown said: "Of course we are going to look at everything but that's a matter for the Budget and the pre-Budget report.
"What I'm determined to do is get all countries around the world trying to get their economies moving again. And one way you can do that is by putting more money into the economy by tax cuts."
Mr. Brown also said he expected the cost of food in the supermarkets to fall over the next six months because of a better wheat harvest. Petrol prices, he said should fall further within days.
When questioned about the banks' reluctance to pass on the recent interest rate cut to customers, the prime minister said: "You can't cut interest rates and see no benefit to people - that's not acceptable, particularly when you are trying to help the banks - like Northern Rock - through difficult times."
Mr. Brown implied that the pre-budget report - which is due out in the next few days - will contain plans for tax cuts to help people through the economic downturn.
After stating that petrol duty had been frozen and people were already getting £120 back in their income tax following the 10p tax controversy, Mr. Brown said: "Of course we are going to look at everything but that's a matter for the Budget and the pre-Budget report.
"What I'm determined to do is get all countries around the world trying to get their economies moving again. And one way you can do that is by putting more money into the economy by tax cuts."
Mr. Brown also said he expected the cost of food in the supermarkets to fall over the next six months because of a better wheat harvest. Petrol prices, he said should fall further within days.
When questioned about the banks' reluctance to pass on the recent interest rate cut to customers, the prime minister said: "You can't cut interest rates and see no benefit to people - that's not acceptable, particularly when you are trying to help the banks - like Northern Rock - through difficult times."
