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The Government's objective is to build a strong economy and a fair society, where there is opportunity and security for all.

The Pre-Budget Report outlines the next stage of reforms, including measures on which the Government will be consulting in the run up to Budget 2004. Key announcements in the Pre-Budget Report include:

• an updated economic forecast, which shows that growth in the UK economy is expected to continue strengthening and that the Government is on track to meet its fiscal rules for sound public finances over the economic cycle;


• new measures to raise productivity by promoting an enterprise economy, including improving access to finance for small business and reducing red tape for business;


• further reforms to promote employment opportunity across the UK, including more help for lone parents and partners of benefit claimants and improvements to Housing Benefit;


• additional help for pensioners and families with children, through an increase in the Child Tax Credit providing support for 7.2 million children, and measures to help with childcare;


• measures to promote fairness in the tax system so that everyone pays the proper amount of tax and receives the benefits they are entitled to; and


• further steps to protect and enhance the environment, including a new framework for duty incentives for alternative fuels and consultation on changes to climate change agreements.

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