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Chancellor of the Exchequer, Alistair Darling, has delivered his Pre-Budget Report to the House of Commons
The Pre-Budget Report is one of two wide-ranging economic reports presented to Parliament by the Chancellor each year.
In spring the Chancellor presents the annual Budget statement, which usually includes a review of how the UK economy is performing, forecasts of how the UK economy will perform in the future any details of any changes to taxation.
The Pre-Budget Statement, along with a Pre-Budget Report, is usually delivered in November and provides a report on progress since the previous Budget, with an update on the state of the national economy and announcements of proposed new taxes.
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