Labour committed to £84bn in PFI contracts
The government is committed to almost £84bn of revenue spending under the private finance initiative - contracts it will be unable to break without penalties. The Budget Red Book expects PFI to produce some £11bn of new investment in the three years from April, similar to the £11.25bn expected over the three-year period to 2000-01 covered by last year's Budget....more
AIRPORTS
Monopolies body may probe BAA ownership
The government could ask the Monopolies and Mergers Commission to investigate BAA's ownership of its UK airports, John Reid, transport minister, said yesterday.Mr Reid was giving further details of the Budget announcement by Gordon Brown, the chancellor, that the government is to review competition in the airport industry....more
CARS
Encouragement to switch to 'greener' vehicles
Two Budgets later than expected, Gordon Brown, the chancellor, revealed his reform of company car taxation, aimed at encouraging drivers to use smaller, less-polluting cars....more
NATIONAL INSURANCE
Taylor reforms to go ahead
The reform of National Insurance Contributions is to continue as recommended in last year's Martin Taylor report. From April 2000 employees will not pay any NICs on earnings below £76 a week. ...more
SMALL BUSINESS
Byers pledges £100m for new body
The government promised £100m of new money for the Small Business Service, the body announced in the Budget as a champion for small business in government. Stephen Byers, the trade and industry secretary, told MPs the government would consult small businesses and industry representatives before finalising plans for the SBS, which it hopes will be up and running by the autumn....more
ELECTRONIC SERVICES
Internet for tax returns
Businesses and individual taxpayers will soon have the option of sending tax information, such as VAT and Income Tax Returns, via the internet....more
CONSUMERS
DTI to hit high prices and rogue traders
The trade and industry department promised "substantial" legislative reform as part of a package of measures aimed at protecting consumers from rogue traders and unfair high prices....more
