Monitor: The Sunday press gives advice to the Chancellor for the Budget

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The Independent Culture
THE IMPOSITION of the minimum wage and restrictions on the length of the working week, not to mention the launch of the euro, have taken a huge toll on small firms. It is time to give them something back.

Entrepreneurs must be encouraged with tax breaks to aid research and training of staff, two of their biggest financial burdens. Brown should also spell out quite specifically how he intends to reform capital gains tax, a move which would help both cash strapped firms and the growing band of business angels who are increasingly funding some of our brightest business hopes.

Scotland on Sunday

AS THE Chancellor knows, the greatest threat to his plans lies outside Britain. Wall Street is valuing American shares more highly than it ever has this century, propelling US consumption, and stopping the global economy from an otherwise certain recession. If Wall Street were to come back to earth and US growth to falter, the whole economic story would change. Mr Brown would have to spend and borrow aggressively to stave off recession, and subsequently to broaden the tax base. The open question is whether over-cautious New Labour could ever countenance such a vigorous policy response.

The Observer

TONY BLAIR and Gordon Brown are putting the final touches to the Budget this weekend. A number of moves are confidently predicted. The erosion of mortgage tax relief and increase in stamp duty will hit home owners. Smokes will go up by more than drink. But the overriding theme will be to prepare Britain for the euro and the death of the pound. And you can bet on that not being part of the Budget speech.

News of the World

PUTTING THE price of petrol up again will not stop people using their cars; there is often no choice. It merely hits those who can least afford it. The only way to stop people driving is to deliver cheap, reliable and safe public transport. And we haven't yet got that.

Sunday Mirror

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