A GIVEAWAY pre-Budget statement can be expected from Chancellor Alistair Darling on Monday, but we should not expect to benefit too much here, warns a local tax expert.

Ernst & Young partner Graham Parrott (pictured) said a generous Budget would mean little to the island, as any measures would have little impact upon us.

‘Despite increased concern over the level of government borrowing, all the predictions and calls are for tax cuts or fiscal stimulus, seemingly funded by further debt in order to try and boost the flagging UK economy,’ he said.

‘A figure of £10-£15bn. has been quoted.  The government is keen to ensure their generosity is put to good use, rather than just squirrelled away,’ said Mr Parrott.

‘Above all, he will wish to avoid the furore surrounding the 10p rate earlier this year.’

Mr Parrott said it was fairly clear what Mr Darling would do and it was unlikely the island would be a target.