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The budget was to be the first presented by a Labour Government since April 1979. [3] [4] Gordon Brown announced plans to hold a budget on 10 June 1997 following Labour's victory in that year's general election, but was forced to revise that date after British Telecom threatened legal action over his plans to announce a windfall tax on privatised utility companies. [5]
Former prime minister Gordon Brown has demanded the Government come up with an emergency budget before a “financial timebomb” in October “pushes millions over the edge”.
Premiership of Gordon Brown 27 June 2007 – 11 May 2010 ... Brown chaired emergency COBRA meetings to review plans to ... in his final pre-Budget report before the ...
The Golden Rule was one of several fiscal policy principles set out by the incoming Labour government in 1997.These were first set out by then Chancellor of the Exchequer Gordon Brown in his 1997 budget speech.
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Gordon Brown served as Chancellor of the Exchequer of the United Kingdom from 2 May 1997 to 27 June 2007. His tenure was marked by major reform of Britain's monetary and fiscal policy architecture, transferring interest rate setting powers to the Bank of England, by a wide extension of the powers of the Treasury to cover much domestic policy and by transferring responsibility for banking ...
Starmer rejects talk of emergency Budget. 12:19, Andy Gregory. ... He was an adviser to Gordon Brown and later ran the respected Resolution Foundation think-tank. Like his brother, Olaf Henricson ...
In his April 2002 budget, Brown increased National Insurance to pay for health spending. He also introduced working tax credits, [62] [63] and in his last budget as Chancellor, Brown gave an extra £3 billion in pension allowances, an increase in the child tax credit, and an increase in the working tax credit. These increases were followed by ...