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LONDON - THE British government was on Monday set to announce a cut in value added tax (VAT) to 15 per cent from 17.5 percent to stimulate spending on goods and services as the country faces recession, reports said.
The cut in VAT was emerging as a likely centrepiece of the Labour government's latest budget report, British newspapers said on Sunday.
'I want every household facing difficulty at this time to know we are ready to help and on their side,' Prime Minister Gordon Brown wrote in the popular News of the World weekly tabloid.
'I know how worried many people are about their jobs, making ends meet at the moment and about the security of their homes.
'No politician can promise to stop the difficult times, but I can promise that we will do everything we can to help people get through them fairly,' Mr Brown added.
British finance minister Alistair Darling will on Monday unveil a budget report also expected to outline plans to boost government spending.
Mr Darling, formally known as the chancellor of the exchequer, will present his pre-budget - an outline of his taxation and spending plans ahead of the full 2009/2010 annual budget due early next year. -- AFP
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