Gordon Brown UK's chancellor of the exchequer has cut
corporate taxes in his 11th budget and announced measures
to help families tighten expenditure. Laying emphasis
on education and training schools in UK will get billions
of pounds to upgrade facilities.
told the parliament that the move would expand prosperity
and fairness for Britain's families - and was built on
the foundation of the longest period of economic stability
and sustained growth in the country's history.
told the British Parliament that headline corporation
tax would be cut to 28 per cent from 30 per cent from
April 2008, in a bid to fight accusations that Britain
is losing competitiveness. Business groups have clamoured
for lower corporation taxes to keep Britain competitive
in a rapidly globalising economy.
a range of policies aimed at reducing Britain's carbon
dioxide emissions, Brown raised duty on petrol for the
second time in three months after a 3-1/2 year freeze
and increased road levies on the most polluting cars,
such as 4x4s.
also announced an extra £400 million (approximately
Rs3,458 crore) of defence spending and 86 million in security
and counter-terrorism funds.
British economy is expected to grow by around 3 per cent
this year - the most in four years and better than any
other Group of Seven country. Brown said UK would grow
between 2.5 and 3.0 per cent in the coming two years and
inflation rate would fall to the government's 2 per cent
goal this year and remain on target in 2008 and 2009.
after 10 years in power, the ruling Labour party is trailing
behind the Tories in the polls, mainly due to popular
anger over the Iraq war and a series of personal and financial