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Pre-Budget Report 2007: Meeting the aspirations of the British people?

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Summary

'Meeting the Aspirations of the British People: 2007 Pre-Budget Report and Comprehensive Spending Review’ (Cm 7227), presents updated assessments and forecasts of the economy and public finances, describes reforms that the Government is making, and sets out the Government's priorities and spending plans upto 2010-11.

These include:

  • Maintaining macroeconomic stability
  • Investing in the future with total public spending rising from £589bn in 2007-08 to £678bn in 2010-11 including an additional £2bn for capital investment in public services
  • Continuing the sustained investment in the NHS, with resources rising from £90bn in 2007-08 to £110bn by 2010-11 and with value for money savings of at least £8.2bn contributing to the funding of the conclusions of the Darzi Review 'Our NHS, Our Future'
  • Further sustained increases in resources for education, science, transport, housing, child poverty, security, international poverty reduction and the 2012 Olympic and Paralympic Games
  • Simplifying the tax system to make it fairer, simpler and more efficient
  • Modernising the tax system through major reforms to inheritance tax and capital gains tax
  • Steps to protect the environment, including reforms of the tax regime for aviation and a new Environmental Taxation Fund to support the demonstration and deployment of new energy and efficiency technologies.

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Law-Making Explained

This is a Command Paper (Cm 7227 2006-07): it is a Report from HM Treasury.

Find out more about Command Papers.

How does it affect me?

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