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Budget

The Budget is the government's annual financial statement and review of the levels of taxation. It also includes the government's future financial strategy and economic forecast.

Most of the tax changes announced in the Budget are legislated for in the annual Finance Bill. Tax legislation announced in the Budet (unlike other legislation) may take effect before the Finance Bill is enacted. Budget resolutions are tabled as soon as the chancellor has finish the Budget speech and voted on at the end of  the Budget debate.

The Pre-Budget Report (PBR) is intended to "encourage debate on the proposals under consideration for the Budget". The PBR includes a report on progress since the previous main Budget announcement, an update on the economy and government's finances, and is accompanied by announcements of proposed new tax measures, and consultation papers.

Since the Labour Party came to power in 1997, the PBR has been delivered in the late autumn and the Budget the following spring.

The following pages summarise the key measures announced in the most recent Budget statements and PBR.

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Policy responses

Responses to consultations and submissions to government, opposition parties and other organisations.

Government initiatives to support the economy and the housing market

A guide to the temporary government initiatives put in place to help deal with the impact of the credit crunch, and the key dates in connection with these schemes.

A practical guide to helping mortgage borrowers in financial difficulty

A leaflet providing practical information to assist MPs and their staff when dealing with enquiries from constituents who are having diffculty in meeting their  mortgage payments. (August 08)