Audit Of Assumptions For The 2009 Pre Budget Report
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Audit Of Assumptions For The 2009 Pre Budget Report
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Author : Great Britain: National Audit Office
language : en
Publisher: Stationery Office
Release Date : 2009-12-09
Audit Of Assumptions For The 2009 Pre Budget Report written by Great Britain: National Audit Office and has been published by Stationery Office this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-12-09 with Business & Economics categories.
This report by the National Audit Office, made under sections 156 and 157 of the Finance Act 1998, examines the conventions and assumptions underlying the Treasury's fiscal projections within the 2009 pre-budget report (Cm. 7747, ISBN 9780101774727).
Audit Of Assumptions For Budget 2009
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Author : National Audit Office
language : en
Publisher: The Stationery Office
Release Date : 2009
Audit Of Assumptions For Budget 2009 written by National Audit Office and has been published by The Stationery Office this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Business & Economics categories.
The Chancellor of the Exchequer asked the National Audit Office to audit two new assumptions underlying the Treasury's fiscal projections within the 2009 Budget (HC 407, session 2008-09, ISBN 9780102959161). Firstly, to assess if the 2008 Pre-Budget report assumption for the trend rate of growth, allowing for a downward adjustment to the trend output level of around 4 per cent, for the post-2006 period, together with the further downward adjustment at Budget 2009 to the trend output level of around 1 per cent, is reasonable and cautious. Secondly, to examine whether the approach used by the Treasury to produce estimates of the fiscal aggregates adjusted for the effects of the economic cycle is reasonable.
Audit Of Assumptions For Budget 2010
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Author : Great Britain: National Audit Office
language : en
Publisher: The Stationery Office
Release Date : 2010-03-24
Audit Of Assumptions For Budget 2010 written by Great Britain: National Audit Office and has been published by The Stationery Office this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-03-24 with Business & Economics categories.
This report examines the conventions and assumptions underlying the fiscal projections within the 2010 Budget (HC 451, session 2009-10, ISBN 9780102964639) that are submitted by the Treasury for examination, along with a review of assumptions on the VAT gap, tobacco revenues, factor shares in national income and funding (debt increase)
Pre Budget Report 2009
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Author : Great Britain: Parliament: House of Commons: Treasury Committee
language : en
Publisher: The Stationery Office
Release Date : 2010
Pre Budget Report 2009 written by Great Britain: Parliament: House of Commons: Treasury Committee and has been published by The Stationery Office this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Business & Economics categories.
This report acknowledges that deciding the right time for fiscal consolidation requires making a fine judgement about the resilience of the recovery. It emphasises that a plan to restore the health of the public finances must deal with the structural deficit. While the Treasury aims to cut the deficit from 9% of GDP to 3.6% of GDP in four years, the expert witnesses who examined it all criticised the document for not providing enough information about how this will be achieved. Future Budgets and PBRs should attempt to quantify the downside risks around the structural deficit forecast. There will be uncertainty in these figures, but they are produced as part of the Spending Review process so there appears to be no argument against their publication. Similarly the Bank of England publishes forecasts showing the possible range of inflation rates and publishing information about debt interest on a similar basis would be useful. The recession appears to have had substantially less impact on the labour market than might have been feared, though concern remains about the level of youth unemployment. Repossessions have been far lower than expected however it is recommended that the Treasury proceeds cautiously over the timing of removal of Government support in this area. We do not want to see a return to the times of easy credit, but the Government needs to remain aware of the risk that lending will not support renewed private sector growth as the public sector retrenches. The purpose of the tax on bank bonuses is to change behaviour so that banks increase their capital, rather than providing large discretionary payments to employees. The next Parliament needs to examine the effectiveness of any regime introduced by the Financial Services Bill, in terms both of its success in altering bank behaviour, and of its effect on the competitiveness of the UK financial sector
Budget 2009
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Author : Great Britain. Treasury
language : en
Publisher: The Stationery Office
Release Date : 2009
Budget 2009 written by Great Britain. Treasury and has been published by The Stationery Office this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Business & Economics categories.
The Budget sets out the Government's plans for taxation, public spending and economic growth for the coming year. Details announced include: an annual growth rate of 2.5 per cent for 2006-07 with a forecast of 2.75 to 3.25 per cent for 2007-08; an inflation rate of two per cent this year; and public sector borrowing on course for a 16 billion surplus over the economic cycle ending in 2010-11, with net borrowing set at 37 billion for this year and 36 billion next year, falling to 23 billion in the year to 2010-11.
Budget 2010
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Author : Great Britain. Treasury
language : en
Publisher: The Stationery Office
Release Date : 2010-03-24
Budget 2010 written by Great Britain. Treasury and has been published by The Stationery Office this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-03-24 with Business & Economics categories.
The Budget sets out the Government's plans for taxation, public spending and economic growth for the coming year. Details announced include: an annual growth rate of 2.5 per cent for 2006-07 with a forecast of 2.75 to 3.25 per cent for 2007-08; an inflation rate of two per cent this year; and public sector borrowing on course for a 16 billion surplus over the economic cycle ending in 2010-11, with net borrowing set at 37 billion for this year and 36 billion next year, falling to 23 billion in the year to 2010-11.
Audit Of Assumptions For Budget 2008
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Author : Great Britain: National Audit Office
language : en
Publisher: The Stationery Office
Release Date : 2008-03-12
Audit Of Assumptions For Budget 2008 written by Great Britain: National Audit Office and has been published by The Stationery Office this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-03-12 with Business & Economics categories.
This report by the National Audit Office, made under sections 156 and 157 of the Finance Act 1998, examines the conventions and assumptions underlying the Treasury's fiscal projections within the 2008 Budget (HC 388, session 2007-8, ISBN 9780102953336)
Pre Budget Report 2008
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Author : Great Britain. Treasury
language : en
Publisher: The Stationery Office
Release Date : 2008
Pre Budget Report 2008 written by Great Britain. Treasury and has been published by The Stationery Office this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Business & Economics categories.
The 2008 Pre-Budget Report presents updated assessments and forecasts of the economy and public finances, and reports on how in the face of major global economic shocks the Government intends to support the economy, businesses and households through these uncertain times while delivering its long-term goals. Measures announced include: temporarily reducing the Value Added Tax (VAT) rate to 15 per cent from1 December 2008 to 31 December 2009; bringing forward £3 billion of capital spending from 2010-11 including introducing a green stimulus supporting low carbon growth and jobs; introducing a new additional higher rate of income tax of 45 per cent for those with incomes above £150,000 from April 2011; increasing national insurance contributions by 0.5 per cent from April 2011; increasing alcohol and tobacco duties; a two pence per litre increase in fuel duty from 1 December). Immediate action to help those individuals and businesses most affected by the economic downturn include: increases in the income tax personal allowance; bringing forward the increase in Child Benefit; increases of the Child Tax Credit and a payment of £60 to all pensioners; help through mortgage rescue and Support for Mortgage Interest schemes for eligible homeowners in difficulty and a commitment from major mortgage lenders not to initiate repossession action within at least three months of an owner-occupier going into arrears; an additional £1.3 billion to support for the unemployed to find a new job; measures to help small and medium-sized enterprises facing credit constraints; a new HMRC Business Payment Support Service to allow businesses in temporary financial difficulty to pay their HMRC tax bills on a timetable they can afford; and more generous tax relief for businesses now making losses and the modification of a number of planned tax reforms, including vehicle excise duty, air passenger duty, and the deferral of the increase in the small companies' rate of corporation tax.
Budget 2008
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Author : Great Britain: H.M. Treasury
language : en
Publisher: Stationery Office
Release Date : 2008-03-12
Budget 2008 written by Great Britain: H.M. Treasury and has been published by Stationery Office this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-03-12 with Business & Economics categories.
The Budget sets out the Government's plans for taxation, public spending and economic growth for the coming year. The Government reports that the economy is stable and resilient, and continuing to grow, and that its strict fiscal rules are being met. Measures include: further financial support for children to move 250,000 out of poverty; an additional one-off payment for over-80s and over-60s households alongside the Winter Fuel Payment; increased support and access to finance for small firms; a £200 million package to support and bring forward by one year the GCSE targets; postponement of the planned fuel duty increase of 2 pence per litre in April 2008 until October 2008; an increase in alcohol duty rates by 6 per cent from 17 March 2008; laying the ground work for the introduction for five-year carbon budgets (the first of which will be included in Budget 2009); further steps to tackle climate change, including reforms to Vehicle Excise Duty, auctioning of 100 per cent of allowances for large electricity producers in Phase III of the EU Emissions Trading Scheme, and that to eliminate single use carrier bags the Government will legislate and impose a charge if retailers do not take voluntary action; further reforms to modernise the tax system, and a number of measures to combat tax fraud and avoidance. (Supporting publications issued alongside the Budget are "The UK economy: analysis of long-term performance and strategic challenges" and "2008 long-term public finance report", HM Treasury - http://www.hm-treasury.gov.uk/budget/budget_08/bud_bud08_index.cfm). The National Audit Office "Audit of assumptions Budget 2008" is also available (HC 345, ISBN 9780102953367).
Opportunity For All
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Author :
language : en
Publisher: The Stationery Office
Release Date : 2004
Opportunity For All written by and has been published by The Stationery Office this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Budget categories.