Budget: Chancellor offers fresh independence to bodies

According to Brown, the British economy is "strong and strengthening", as inflation is at 2% and on the Treasury's target as the economy is said to have grown in the last quarter. "We have met our inflation target this year every year since 1997," says Brown. "Inflation is still expected to be in line with our target. Long-term inflationary expectations have halved to just 2%, and since Black Wednesday in September 1992, mortgage rates have averaged 6%," he continues. Further independence is being offered in key aspects of the economy, says Brown, in relation to competition policy, indus...