Pre-Budget Report statement to the House of Commons, delivered by the Rt Hon Alistair Darling MP, Chancellor of the Exchequer
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Mr Speaker, my Pre-Budget statement today is made against a background of economic uncertainty not seen for generations.

These are extraordinary, challenging times for the global economy.

And they are having an impact on businesses and families right across the world.

Mr Speaker, in these exceptional economic circumstances, I want to take fair and responsible steps to protect and support businesses and people now – while putting the public finances on the right path for the future.

That is what I will do today.

My central objective is to respond to the consequences of this global recession on our country, both now and in the future, so that we are ready to take full advantage of the recovery of the world economy.

My aim is to provide support and protection for families and businesses when they need it most.

To maintain our commitment to investing in schools, hospitals and the nation’s key infrastructure.

And to put in place the measures necessary to ensure sound public finances in the medium term so that as a country we live within our means.

Not one single initiative, but a comprehensive plan, to support families, business and the economy.

And because of the wide ranging measures I am announcing today and the many strengths of the British economy, I am confident that the slowdown will be shallower and shorter than would have been the case.

I am also confident that the UK, as an adaptable and open economy, will be well positioned to benefit from a return to growth in the world economy.