Oil's well for Gordon Brown - papers 21 February

A 50% increase in corporate tax receipts in January, significantly helped by bringing forward taxes paid by oil companies, mean there will be less or even no need for any major tax increases over the next couple of years The Telegraph says the news is “further evidence” Brown is trying to fix up the national accounts before taking over from current prime minister Tony Blair. The paper quotes the Ernst & Young Item Club suggesting Brown will meet his annual borrowing forecasts for the first time in five years, while the Institute for Fiscal Studies pointed to the Treasury exceeding previo...