§ The measures I have announced are designed to meet the three main requirements of any Budget. First, they represent sound finance, and contribute to a firm counter-inflationary policy. My predecessors transformed public finances in the 1980s; my proposals will keep us on track to balance the budget over the 1990s. Secondly, they respond to the economic needs of the moment. I have cut taxes on business, both this year and next, to help it to weather the recession and take advantage of the upturn later in the year. Thirdly, they continue the reform of the tax system to improve the working of the economy in the longer term. In addition, in a year when resources are tight, I have been able to give additional help to families with children. Finally, I have made a decisive reduction in the burden of local taxation across the country, and cut community charges in the coming year by £140.
§ This Budget is good for business, good for families, good for charge payers and good for the country. I commend it to the House.
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- PROVISIONAL COLLECTION OF TAXES 112 words