Kevin Reed, Accountancy Age, Monday 6 September 2010 at 08:27:00

Chancellor to scrap mid year Budget update

The pre-Budget report is likely to be scrapped by the chancellor and replacedwith a slimmed down statement with new forecasts.

A big focus for George Osborne towards the end of the year will be settingout departmental budgets in the Comprehensive Spending Review towards the end ofOctober, reported the FT.

The PBR was introduced by Gordon Brown when Labour came into power in 1997.

Further reading:

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