Darling to deliver PBR on November 24

The government has announced that the pre-Budget report will take place on Monday November 24.

The date for the chancellor's annual autumn statement on the economy has been delayed due to uncertainty over the economy.

But Downing Street confirmed on Wednesday that Alistair Darling will update MPs on the public finances later this month.

In the 'mini-Budget' Darling is set to unveil massively increased levels of government borrowing, breaching the prime minister's two fiscal rules.

However Darling and Gordon Brown have been preparing the ground for the admission by arguing that the global downturn now means it is sensible to borrow more in order to provide a "fiscal stimulus" for the economy.

The chancellor is also set to use the announcement to update Parliament on his tax plans, with help for those who have not yet been compensated over the loss of the 10p tax rate thought to be his top priority.

Other changes could include a U-turn over plans to reform vehicle excise duty, particularly an unpopular proposal to backdate the tax on some cars, and bringing forward some public spending projects in order to drive up domestic demand.