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FINANCE CRISIS FORCES 10% TAX INCREASES

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A crisis in public finances will force councils to increase council tax by 10% next year, according to the Centre f...
A crisis in public finances will force councils to increase council tax by 10% next year, according to the Centre for Economics & Business Research.

The centre also warned chancellor Gordon Brown would squeeze spending on infrastructure projects by £2bn and impose a further 1% increase in national insurance contributions. Despite this, public borrowing would reach £31.2bn in 2004/05, it predicted.

?The good news is that we are not forecasting a recession,? said Douglas McWilliams, the centre?s chief executive.
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