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Schroders European economist Azad Zangana believes the measures proposed by Chancellor Alistair Darling in the Pre-Budget Report will do little to bring public finances back under control.

The Government says it will explore ways of encouraging a more 'sustainable, transparent and standardised' mortgage-backed securities market in the UK.

The FTSE 100 crept up slightly immediately following this afternoon's Pre-Budget Report, despite confirmation the UK's debt will hit 78% within the next five years and the announcement of measures to tax banker bonuses.

Banks will be subjected to a one-off levy of 50% on any bonuses above £25,000.

The UK's net debt will rise to 78% of GDP over the next five years, according to Alistair Darling.

The Chancellor says he is confident the UK's economy will return to growth in 2010.

The upcoming reversal of the UK's emergency VAT cut could spark a collapse in New Year retail sales and ultimately derail the nation's economic recovery, M&G retail fixed income head Jim Leaviss says.

Schroders chief economist Keith Wade has warned Alistair Darling not to attempt to rein in the UK's burgeoning budget deficit too early, believing the UK economy is still "fragile".

Alistair Darling's pre-Budget report today is apparently the only thing that can prevent Britain from losing her historic and cherished AAA credit rating.

Fund managers believe the outlook for clean technology stocks is increasingly positive following the US Environmental Protection Agency's declaration carbon dioxide is dangerous to human health.