2002 Pre-Budget Report Summary

Chancellor Gordon Brown presented his Pre-Budget Report on 27 November. This year the date was announced less than two weeks in advance. Despite this, the speech covered many measures and proposals. In particular income tax allowances and national insurance rates and limits for 2003/04 were confirmed and a number of measures relating to the reform of pensions were announced. Protection of the environment and simplifying life for smaller businesses also featured high on the Chancellor’s agenda. Specific provisions designed to stop avoidance of tax were also included, generally taking immediate effect.

The key points are included in this summary.