Osborne may drop pre-Budget report
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Chancellor George Osborne is looking at dropping the pre-Budget report from the coalition Government’s roster of economic events.
According to reports, the move would be another example of the Chancellor looking to move away from some of Gordon Brown’s existing policies at the Treasury.
Insiders says that although no final decision has been made on the PBR, the Spending Review likely to dominate in the autumn, and with the Treasury introducing a number of reforms to macroeconomic and financial stability inside its first 50 days in power, the Chancellor is considering scrapping the event entirely or for this year at least.
The PBR may be rebranded as the autumn statement, as it was traditionally known before Ken Clarke abolished it when he was Chancellor.
Osborne has already unveiled plans to disband the Financial Services Authority.
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