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The Government's objective is to build a strong economy and a fair
society, where there is opportunity and security for all.
The Pre-Budget Report sets out how the Government is working to
achieve this goal, building on a platform of stability and sustained
growth to ensure that Britain can continue to succeed in the rapidly
changing and increasingly competitive global economy. Key announcements
in the Pre-Budget Report include:
- an updated economic forecast, which shows that the UK
economy is continuing to grow strongly and that the Government
is meeting its strict fiscal rules for sound public finances over
the economic cycle;
- a ten-year strategy for childcare, to achieve the Government's
vision of affordable, high-quality childcare for all parents who
need it;
- a National Employer Training Programme, providing free
and flexibly delivered training for low-skilled adults in work;
- a payment of £50 to households with someone aged over
70, to help with council tax and other living expenses, to
be paid by the end of December 2005;
- new measures to raise productivity by promoting an enterprise
economy, including through plans to reduce red tape for business;
- reforms to promote employment opportunity, including
extra support for people on incapacity benefits who want to return
to work;
- measures to promote fairness in the tax system, tackle
tax fraud and avoidance, and protect revenues;
- additional funding of £520 million to meet the cost
of the UK's international commitments, including in Iraq;
- extra financial support for local government to help
deliver public service improvements and ease council tax pressures;
and
- the continuation of the freeze on main road fuel duties,
in response to the sustained volatility in the oil market.
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