LONDON : Budget and Blueprint
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British Chancellor of the Exchequer Norman Lamont today is expected to present Parliament with a budget that will be not so much a tax-and-spending blueprint as the centerpiece of the Conservative Party’s reelection campaign this year.
Most urgently for the Conservatives, the 1992-1993 budget must hold the promise of a way out of the deep recession that has gripped Britain for more than a year.
The budget is likely to include a tax cut, which Conservatives will be able to contrast with the opposition Labor Party’s plan to raise taxes on upper-income taxpayers.
Britain must hold a general election this spring, and the betting is that the government will choose April 9.
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