Pre-Budget 2008 Links Page

The Chancellor made his Pre-Budget Report speech to the House of Commons on 24 November 2008 at 3:30pm

This page features a collection of links provided by the Library & Information Service on resources for the 2008 Pre-Budget Report. In the build up to the report this page will focus on Pre-Budget submissions, previews and predictions. Following the publication of the report this page will provide access to a wide range of reaction and analysis.

The Library & Information Service maintains the Institute's Links Pages containing over 10,000 links to accountancy, business and finance related web sites. The Budget links page is a special service brought to you each year by the Library & Information Service for the Budget, the Pre-Budget Report and the Finance Bills and Acts.

The ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided "as is" with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.

Live coverage

The Directgov and BBC web sites have video replays of the Pre-Budget speech.

Library and Information Service

The ICAEW Library and Information Service's collection includes books and journal articles on the Pre-Budget. It includes reaction as books and articles are published after the event. You can find more books and articles on budgets past and present by searching LibCat, our online catalogue. For details of our photocopying/fax service please see our FAQ page.

Institute of Chartered Accountants in England and Wales

In response to the Pre-Budget report the ICAEW issued the press release Time will tell if Chancellor's proposals work on 24 November 2008

Further reaction and analysis is available on the ICAEW Pre-Budget Report web site

Tax Faculty

The Tax Faculty is the focus within the Institute for those Chartered Accountants working in the area of tax. It is a centre of excellence and an authoritative voice for the Institute on taxation matters. It makes representations to Government and other authorities, and public pronouncements on major tax issues. Tax professionals can access more information about the Tax Faculty from the Tax Faculty Web Site.

In response to the Pre-Budget Report the Tax Faculty published its Pre-Budget 2008 Overview and Full Pre-Budget Commentary (PDF, 160KB) on 27 November 2008

The Tax Faculty’s 2008 Pre-Budget submission, announced in a press release on 14 September 2008, was published as TAXREP 58/08 (PDF, 84KB). Key issues include improving tax policy formulation, simplifying the tax system, income shifting and small business tax policy, the Taxpayers’ Charter, the review of HMRC’s powers, statutory residence tests, taxation of non-domiciles and taxation of overseas profits.

UK Government

• HM Treasury: Pre-Budget Report 2008

  The Treasury webpages for the Pre-Budget Report 2008 contain the full report, related press notices, a transcript of the Chancellor's speech and all the associated documents following the Chancellor's speech.

• HMRC: Pre-Budget Report 2008

  Contains details of the Chancellor's speech and supporting documents relating to the Pre-Budget Report.

Institutes and Associations

• Association of British Insurers (ABI)

  The ABI responded to the Pre-Budget Report on 24 November 2008 with the press release Lack of action for savers disappointing and a missed opportunity

  Prior to the Pre-Budget Report the ABI issued the press release Flood defences best candidate to boost capital expenditure on 21 November 2008.

• Association of Private Client Investment Managers and Stockbrokers (APCIM)

  The APCIM's Pre-Budget submission, issued in a press release on 19 August 2008, called on the Government to build on their simplification of Capital Gains Tax so that long term share ownership is not penalised.

• Automobile Association (AA)

  The AA responded to the Pre-Budget Report on 24 November 2004 with the press release Chancellor gives with one hand and takes with the other

• British Bankers Association (BBA)

  Following the Pre-Budget Report the BBA issued the press release Banks Welcome Pre-budget Report To Steady The Economy on 24 November 2008

• British Property Federation (BPF)

  The BPF issued the press release Government defiant over empty rates tax in response to the Pre-Budget Report on 24 November 2008

• British Retail Consortium (BRC)

  The BRC reacted to the Pre-Budget Report on 24 November 2008 in the press release VAT change modest but welcome

  The BRC announced its Pre-Budget submission in a press release issued on 21 August 2008, calling on the Chancellor to reduce retailers' price pressures and restore consumer confidence

• British Chambers of Commerce (BCC)

  The BCC responded to the Pre-Budget Report on 24 November with the press release Despite some good measures, PBR disappoints

  In the run up to the Pre-Budget Report the BCC issued the press release Chancellor must cut business taxes on 20 November 2008, calling for immediate measures including the reintroduction of empty premises tax relief, reductions in National Insurance Contribution rates and reversing the increase in small companies corporation tax.

• British Vehicle Rental and Leasing Association (BVRLA)

  Following the Pre-Budget Report on 24 November 2008 the BVRLA published Business Cars and Corporation Tax - Pre Budget News

• British Venture Capital Association (BVCA)

  The press release BVCA response to Pre-Budget Report was published on 25 November 2008

  In the BVCA's Pre-Budget Report (PDF, 170KB), published on 19 September 2008, it called for certainty and stability in the tax regime and for the Government to ensure that a flow of capital in to the venture capital industry is maintained.

• Chartered Institute of Taxation (CIOT)

  The CIOT published PBR changes: VAT & Indirect Taxes on 25 November 2008

  The CIOT's Budget 2009 Representations (PDF, 189KB), were published on 18 July 2008 and include discussion of small business tax, income shifting and NICs, statutory residence tests and a Taxpayers' Charter

• Confederation of British Industry (CBI)

  In response to the Pre-Budget Report the CBI issued a press release on 25 November 2008, welcoming the announcement that £3 billion of capital spending is being brought forward from 2010/11.

  The CBI issued the press release CBI calls for immediate government action to protect jobs ahead of the Pre-Budget Report on 24 November 2008. Its Pre-Budget Recommendations(PDF, 620KB) are outlined in a letter to the Prime Minister on 18 November 2008

• Council of Mortgage Lenders (CML)

  In a press release following the Pre-Budget Report on 24 November 2008 the CML welcomed the Government's in-principle decision to accept the recommendations of the Crosby report with regards the market for mortgage backed securities.

• EEF

  In reaction to the Pre-Budget Report on 24 November 2008 the EEF issued the press release Pre-Budget Report ticks two of three boxes say manufacturers. It welcomed moves to improve business cashflow but raised questions over whether measures will be delivered in a timely fashion

  EEF released its Pre-Budget Submission in September 2008, calling for a clear statement on the future direction of corporate tax policy

• Federation of Small Businesses (FSB)

  The FSB responded to the Pre-Budget Report on 24 November in a press release. It welcomed a number of measures including the new £1billion fund for small firms but was critical of the cut to VAT and increase in employers National Insurance contributions

  Prior to the Pre-Budget Report the FSB called, in an open letter published in the national press, for the Chancellor to implement a survival fund for small businesses

• The Forum of Private Business (FPB)

  The FPB published the press release Temporary measures announced in Pre-Budget Report do not go far enough on 25 November 2008.

  In the press release Government urged to show comittment to small firms in Pre-Budget Report, issued on 13 November 2008, the FPB called for better lending, a reduction in regulation and a series of tax reforms in order to help small firms survive the economic downturn.

• Freight Transport Association (FTA)

  Following the Pre-Budget Report on 24 November 2008 the FTA, in the press release Chancellor is hanging the logistics industry out to dry, condemned the Chancellor's move to increase fuel duty to offset cuts in VAT

  In the press release Transport taxes are no quick fix issued on 21 October 2008, the FTA urged the Treasury to 'think carefully before setting off down a path of further transport taxes.'

• Friends of the Earth (FOE)

  FOE published a press release on 24 November 2008, commenting that the Pre-Budget report had 'fallen a long way short of leading Britain out of the economic downturn by investing in a low carbon economy.'

• Institute of Chartered Accountants in Scotland (ICAS)

  ICAS responded to the Pre-Budget Report with the press release ICAS calls for stability, with simple tax measures to build confidence on 24 November 2008. It welcomed new tax measures aimed at helping business through the current crisis, but criticised the Chancellor for introducing unnecessary complexity to the system.

• Institute of Directors (IOD)

  The IOD responded on 26 November 2008 to the Pre-Budget Report with the press release Not the biggest bang for our buck, expressing doubt that the 2.5% reduction in the VAT rate will stimulate consumer spending as much as is expected by the Chancellor.

  The IOD outlined its Pre-Budget representations in a press release on 18 November 2008, calling for a temporary £20 billion fiscal stimulus through a 3p cut in income tax and 4p cut in corporation tax.

• Institute of Fiscal Studies (IFS)

  Pre-Budget comment and analysis is available from the IFS.

• Institute for Public Policy Research (IPPR)

  The IPPR reacted to the Pre-Budget Report in a press release on 24 November 2008, commenting that 'in tax terms this was the most redistributive budget statement of the last thirty years.'

• Investment Management Association (IMA)

  The IMA responded to the Pre-Budget Report on 24 November 2008 with the press release IMA welcomes further commitment to fund tax reform

• National Farmers Union (NFU)

  The NFU's Pre-Budget response, issued on 24 November 2008, describes a missed opportunity in helping agriculture play a part in driving forward economic recovery.

  In a press release on 9 October 2008 the NFU announced details of its 2008 Pre-Budget Submission. (PDF, 468KB). It called for tax measures to help farmers and growers meet forthcoming capital costs required of them due to animal welfare and environmental legislation. Diversification, Biofuels and Vehicle Excise Duty are also discussed.

• Oil and Gas UK

  Oil and Gas UK responded to the Pre-Budget Report in a press release on 24 November 2008, welcoming the Government's commitment to working closely with the industry to establish the right incentives to increase production from marginal oil fields.

• Retail Motor Industry Federation (RMIF)

  The RMIF issued the press release RMIF Cautiously Welcomes Chancellor's Crunch-Busting Measures in response to the Pre-Budget Report on 24 November 2008

  Prior to the Pre-Budget Report the RMIF and SMMT called for range of measures to help stimulate the motor sector during the ongoing economic downturn in a joint letter to the Chancellor on 19 November 2008

• Royal Institution of Chartered Surveyors (RICS)

  Following the Pre-Budget Report RICS issued a comprehensive analysis on 24 November 2008

  In a press release on 20 November 2008 RICS announced details of its Pre-Budget Submission (PDF, 49KB) for 2008.

• Road Haulage Association (RHA)

  In a press release issued on 24 November 2008 the RHA expressed disappointment in the increase in fuel duty to compensate for a VAT reduction of 2.5 per cent.

  The RHA issued it Pre-Budget Submission in September 2008

• Society of Motor Manufacturers and Traders (SMMT)

  The SMMT responded to the Pre-Budget Report on 24 November with the press release Motor industry call for further action from chancellor

  The SMMT urged the government in a press release on 13 November 2008 to use the Pre-Budget report to scrap the planned increase in vehicle excise duty (VED) and the First Year Rate from 2010/11 in order to stimulate the market

• Trades Union Congress (TUC)

  The TUC reacted to the Pre-Budget Report on 24 November 2008 in a press release which welcomed the injection of extra cash into the economy but commented further interest rate cuts and action were needed to get credit flowing effectively. Detailed reaction was also published by the TUC later on 24 November 2008.

  In the press release Stimulate economy with tax cuts issued on 18 November 2008, the TUC called for tax cuts for low and middle income earners. It also urges the Government to help those hit by recession through suspending housing repossessions, higher benefits and better redundancy pay.

Accountancy Firms and Other Tax Advisors

• BDO Stoy Hayward Pre-Budget 2008

  Contains Pre-Budget highlights, commentary and full analysis

• Deloitte Pre-Budget 2008

  Includes a summary of the Pre-Budget Report and full analysis from Deloitte.

  Deloitte reacted to the Pre-Budget Report on 24 November 2008 with the press release Spend, spend, spend now, pay later

• Ernst & Young Pre-Budget Report 2008

  Contains all of Ernst & Young's Pre-Budget Report commentary and analysis

  Following the Pre-Budget Budget Report Ernst & Young responded with the press release A PBR for consumers but not entrepreneurs on 24 November 2008

• Grant Thornton Pre-Budget Report 2008

  Commentary from Grant Thornton on the 2008 Pre-Budget Report

• KPMG Pre-Budget Report 2008

  Predictions, commentary and analysis from KPMG on this year's Pre-Budget report.

  KPMG responded to the Pre-Budget Report with the press release Good news but far from a bonanza for business - and pain to follow on 24 November 2008

• PKF Pre-Budget Report 2008

  Includes PKF’s predictions and coverage of the Pre-Budget Report

• PwC Pre-Budget Report 2008

  Contains PwC's coverage of the 2008 Pre-Budget report

  PwC issued the press release Pre-Budget Report 2008: Short term wins, but will it be enough? on 24 November 2008

• Smith & Williamson Pre-Budget Report 2008

  Pre-Budget reaction and analysis from Smith & Williamson

News Sources

• Accounting Web

  Accounting Web provides a useful collection of news reports and analysis. The site promotes lively discussion of the Pre-Budget report with the opportunity to read and take part in responses to articles.

• BBC news

  The BBC news website includes Pre-Budget news, analysis and the chance to have your say

• Financial Times

  The FT site has an in depth Pre-Budget Report with a collection of articles, analysis and comment.

• Guardian

  The Guardian's Pre-Budget pages include a selection of articles, analysis, comment and debate

• The Telegraph Online

  The Telegraph has full coverage of the 2008 Pre-Budget Report.

• The Times Online

  The Business pages of the Times Online have published a dedicated section on the Pre-Budget Report