By David Robinson
London, March 7 (BridgeNews) - U.K. Chancellor of the Exchequer Gordon Brown has told Cabinet colleagues that his budget will deliver targeted tax cuts for priority areas but will not jeopardize inflation or interest rates, according to Prime Minister Tony Blair's official spokesman. Brown told them the government wanted to build "solid, stable economic foundations" and was committed to long-term policy-making.
* * * He also promised to be "vigilant to potential international risks to the economy." Brown is expected to publish some new economic forecasts in his budget, possibly edged lower from the last set to recognize the deteriorating outlook for the global economy.
Brown will stand up to deliver his speech at around 1530 GMT and will speak for roughly an hour, the spokesman said.
Any tax cuts are expected to be targeted at working families, pensioners, motorists and business. An across-the-board income-tax cut, although the staple of past pre-election budgets, is considered highly unlikely. Instead, a more equitable widening of the 10% starting rate of income tax is thought to be a likely feature of the package. End Copyright 2001 Bridge Information Systems Inc.