Rt Hon Alistair Darling MP
Gorgie Dalry Gazette (Pre-Budget Report)
In his Pre-Budget Report this month, Gordon Brown set out the long-term policies that will build on our economic stability and help Scotland face the challenges ahead. The Government’s aim is to build a fairer society where there is opportunity and security for all.
The Chancellor announced a rise of £80 in the child element of the Child Tax Credit from April 2007. And every mother-to-be will be eligible for Child Benefit, from week 29 of their pregnancy from April 2009
The minimum wage is now £5.35 per hour. But to be effective we must ensure British workers and good British companies are not undercut by illegal rates. In January we will raise the penalties for persistent illegality and improve enforcement of the national minimum wage by increasing by 50% the resources allocated to tackle non-compliance.
Individual Savings Accounts will become permanent beyond 2010 which will provide stability for savers and certainty for the industry.
We believe that economic prosperity must be achieved while protecting the environment to ensure a better quality of life for current and future generations. So, further steps are being taken to tackle climate change, including an increase in air passenger duty from February 2007, in recognition of the environmental costs of flying. There will be a target for all new homes to be zero carbon by 2017 with a new time-limited stamp duty exemption for new homes that meet this standard.
The Pre-Budget report also announced an extra £284 million for the Scottish Executive to allocate.
The UK economy is experiencing its longest unbroken expansion on record with GDP now having grown for 57 consecutive quarters. Britain has enjoyed the longest period of combined productivity and employment growth since the 1950s. Inflation is set to remain low and stable and the number of people in work is now close to record highs, an increase of 2.5 million since 1997.
We’ll build on this success by investing in world class skills, science and innovation which will allow us to take hold of opportunities in the global economy.
I welcome the Pre-Budget Report unveiled by Chancellor of the Exchequer Gordon Brown - this is about taking the right decisions for the long term future of Scotland and Britain.
Finally, may I take this opportunity to wish readers a very happy Christmas and a good New Year.
