Next week the Chancellor will set out his final Pre-Budget report before the next general election.
In it he will hope to define the Labour government as the only party that can ensure economic recovery, and drive a wedge of economic policy between Labour and the Conservatives.
In what will no doubt be dubbed a bold PBR, we know this from leaks thus far:
• VAT will return to the 17.5% level
• Income tax and national insurance look set to be increased
• New ‘green’ taxes are expected
• Measures to ensure continued growth of low carbon sectors is certain
It will be interesting to see how many of the Chancellor’s measures are tabled for introduction before the General election.