Brown pledges tax cuts to revive British economy

British Prime Minister Gordon Brown promised today to use tax cuts to inject new vigour into the British economy and reduce the length and depth of the recession.

Mr Brown was speaking ahead of this afternoon’s Pre-Budget Report in which Chancellor Alistair Darling is expected to announce a 2.5% cut in VAT – to be paid for in part by increasing income tax on the wealthy after the downturn has concluded.