According to the Mirror leaked documents show the break-up of Britain's banking system will be the centrepiece of Alistair Darling's Budget this week.....
The Mirror goes on to claim that the confidential briefing notes show Darling will:
- Set up the Government's own investment bank funded by a £1billion privatisation of the Channel tunnel rail link to fund large projects such as nuclear power stations and high-speed train networks.
- Relax restrictions on setting up high-street banks to allow at least three new financial firms to come in to provide better deals on mortgages and overdrafts.
- Bring In "capital funds" to allow small businesses to apply directly for government loans when they are turned down by the banks.
ALISTAIR Darling yesterday insisted Labour would not hold a second Budget should it win the general election and ruled out a rise in VAT, dismissing Conservative claims that this week's Budget would be "window dressing".
Despite better-than-expected tax and borrowing figures, the Chancellor has ruled out a pre-election "giveaway" and said the public wants a "sensible and workmanlike" Budget on Wednesday.