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Brown Hints At Tax Cuts For UK Savers

by Robin Pilgrim, LawAndTax-News.com, London

12 March 2009

UK Prime Minister Gordon Brown has hinted that the country's savers could benefit from a number of possible tax changes in the forthcoming budget.

Mr Brown's revelation came during a recent radio interview, where he suggested that several of the tax reforms planned for the next budget would boost the value of savings.

The Prime Minister's news will be welcomed by people who rely on their savings to provide a regular income. UK interest rates have rapidly declined to 0.5% since the start of the financial crisis.

This is the first time that the Prime Minister has directly addressed this particular issue. However, opposition leader David Cameron has already spoken about how his Conservative party would deal with the matter should they be voted in at the next election, pledging rate reductions for savings income.

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