Industry braces itself for pre-Budget report

Commentators expect Darling to lower UK economic forecasts for the year in light of the recent ‘credit crunch’, as well as provide a Labour response to the Conservative’s much-lauded plans for inheritance tax. Moves to close the tax loopholes enjoyed by private equity bosses are also expected. The report follows criticism leveled at Prime Minister Gordon Brown for last week ruling out a snap election. His decision was interpreted by many as illustrating Brown’s fear of defeat in an election after a series of straw polls suggested Labour would lose its majority. The Prime Minister said h...