Pre-Budget Report 2009

"Treasury Committee calls for more clarity on plans to reduce structural deficit"

The Chancellor of the Exchequer, the Rt Hon Alistair Darling MP, delivered his second Pre-Budget Report on 9 December 2009. This Pre-Budget Report took place at a time of great uncertainty, both economic and political. Over the previous 18 months Governments around the world provided huge
support to the financial system, to prevent its collapse. Many Governments also intervened to protect the wider economy from the results of the financial crisis.

In accordance with past practice the Committee undertook an inquiry into the Pre-Budget Report and published its Report on 6 January 2010.

The Committee acknowledged that deciding the right time for fiscal consolidation required making a fine judgement about the resilience of the recovery, particularly as there was considerable uncertainty in the economic outlook; and any fiscal consolidation would have to function in that context. The Committee also noted that it may be difficult for any consolidation plan to command universal support. It would therefore be very important to add greater detail and clarity to the plan sooner rather than later.

Report and oral and written evidence | Press notice | Government response

Oral evidence

The Committee held evidence sessions with independent experts, HM Treasury officials and the Chancellor of the Exchequer.

Monday 14 December 2009

Witnesses: Sheila Dow, Professor of Economics, University of Stirling, Karen Ward, Chief UK Economist, HSBC, Robert Chote, Director, Institute for Fiscal Studies, and Martin Weale, Director, National Institute of Economic and Social Research; Robert Chote, Institute for Fiscal Studies, John Whiting, Tax Policy Director, Chartered Institute of Taxation, and Low Incomes Tax Reform Group, David Harker, Chief Executive, Citizens Advice, and David Heald, Professor of Accountancy, University of Aberdeen

Tuesday 15 December 2009

Witnesses: Dave Ramsden, Chief Economic Adviser, Edward Troup, Director, Business and Indirect Tax, Peter Schofield, Director, Enterprise and Growth Unit, Mike Williams, Director, Personal Tax and Welfare Reform, James Richardson, Director, Public Spending, HM Treasury

Wednesday 16 December 2009

Witnesses: Alistair Darling MP, Chancellor of the Exchequer, Dave Ramsden, Chief Economic Adviser, Andrew Hudson, Managing Director, Public Services and Growth, and Mark Bowman, Director, Budget and Tax, HM Treasury


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