Economic and fiscal outlook

Front Cover
The Stationery Office, Nov 29, 2010 - Business & Economics - 156 pages
0 Reviews
The Office for Budget Responsibility was established to provide independent and authoritative analysis of the UK's public finances. Part of this role includes producing the official economic and fiscal forecasts. This report sets out forecasts for the period to 2015-16. The report also assesses whether the Government is on course to meet the medium-term fiscal objectives and presents preliminary observations on the long-run sustainability of the public finances. Since the June forecast, the UK economy has recovered more strongly than initially expected. The GDP growth was greater than expected in both the 2nd and 3rd quarters, but that unemployment levels have risen to levels that the June forecast did not anticipate until the middle of 2012. In general the world economy has also grown more strongly. CPI inflation has remained slightly higher than expected in June, whilst public finances have performed as forecast. The interest rates on UK debt are lower than in June. The OBR forecasts that the economy will continue to recover from the recession, but at a slower pace than the recoveries of the 1970s, 1980s and 1990s. The publication is divided into 5 chapters with two annexes.
 

What people are saying - Write a review

We haven't found any reviews in the usual places.

Contents

Foreword
1
Developments since the last forecast
13
Economic outlook
25
Fiscal outlook
77
Performance against the Governments fiscal objectives
133
Annex A Spending Review policy measures
149
Copyright

Common terms and phrases