In this period of economic gloom, Judy Viitanen believes that tomorrow’s Pre-Budget Report will be the most significant financial announcement from the Labour Government in their 11 year tenure. With companies and consumers feeling the impact of the credit crunch and looming recession, PRimage has a raft of hopes and concerns about what is needed from the Chancellor to keep the UK economy moving.
We understand that a total package of up to £20 billion is expected in the Pre-Budget Report – and the Chancellor may take the opportunity to help the depressed property investment sector with an easing of the stamp duty rules for property investment funds, and he will also include measures which will come to the aid of the high street and manufacturing industries. Judy feels that that the much touted temporary cut in VAT – from 17.5% to 15% – would go a long way towards increasing consumer confidence and encourage spending by putting some extra pounds into people’s pockets.
Judy also believes that because it is clearly the poorest families who need most help during the economic downturn, urgent action – such as tax cuts – is required to keep ordinary people in their jobs and homes. She also believes that it is vital that older people receive the financial help they need – especially to help with winter fuel. Fuel cost issues are at the top of older people’s concerns!