MPs to debate Pre-Budget Report
Wednesday 26th November 2008, 6:01AM GMT.
MPs will debate the Pre-Budget Report later today following pressure for further discussion by the Conservatives.
After prime minister’s questions and a statement on local government finance the Commons will begin its three-hour debate on the major taxation changes announced on Monday.
Yesterday afternoon speaker Michael Martin accepted Tory demands for a debate after shadow chancellor George Osborne requested it under parliament standing rules.
“The news the government is set to borrow more than any government in history has shocked the entire country,” he told the Commons yesterday.
“If this had formally been called a Budget there would now be four whole days of debate on it.
“These are the issues the entire country is talking about and I believe we should be debating them in this chamber.”
Chancellor Alistair Darling has indicated he has no objection to such a debate following the Pre-Budget Report.
He plans to increase public borrowing to 57 per cent of GDP, lower value-added tax to 15 per cent for 13 months and increase income tax to 45 per cent for those earning over £150,000.
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