British Government Fiscal Sustainability Report July 2011
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British Government Fiscal Sustainability Report July 2011
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Author : British Office for Budget Responsibility
language : en
Publisher: CreateSpace
Release Date : 2012-03-08
British Government Fiscal Sustainability Report July 2011 written by British Office for Budget Responsibility and has been published by CreateSpace this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-03-08 with Business & Economics categories.
The Office for Budget Responsibility (OBR) was created in 2010 to provide independent and authoritative analysis of the UK's public finances. As part of this role, the Budget Responsibility and National Audit Act 2011 requires us to produce “an analysis of the sustainability of the public finances” once a year. ThisFiscal sustainability report is our first such analysis.
British Government Fiscal Sustainability Report July 2012
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Author : Office for Budget Responsibility Government of the United Kingdom
language : en
Publisher:
Release Date : 2013-01-28
British Government Fiscal Sustainability Report July 2012 written by Office for Budget Responsibility Government of the United Kingdom and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01-28 with Political Science categories.
The Office for Budget Responsibility (OBR) was created in 2010 to provide independent and authoritative analysis of the UK's public finances. As part of this role, the Budget Responsibility and National Audit Act 2011 requires us to produce "an analysis of the sustainability of the public finances" once a year. Our approach to analyzing this issue is twofold: * first, we look at the fiscal impact of past public sector activity, as reflected in the assets and liabilities that it has accumulated on its balance sheet; and * second, we look at the potential impact of future public sector activity, by examining how spending and revenues may evolve over the next 50 years - and the impact this would have on public sector net debt. Broadly speaking, the fiscal position is unsustainable if the public sector is on course to absorb an ever-growing share of national income simply to pay the interest on its debts. This notion of sustainability can be quantified in a number of ways. It is important to emphasize that the long-term outlook for public spending and revenues is subject to huge uncertainties. Even backward-looking balance sheet measures are clouded by difficulties of definition and measurement. The long-term figures presented here should be seen as broad-brush illustrative projections rather than precise forecasts. Policymakers need to be aware of these uncertainties, but should not use them as an excuse for ignoring the long-term challenges that lie ahead. The analysis and projections in this document represent the collective view of the three independent members of the OBR's Budget Responsibility Committee. We take full responsibility for the judgments that underpin them and for the conclusions we have reached. We have, of course, been supported in this by the full-time staff of the OBR, to whom we are as usual enormously grateful. We have also drawn on the help and expertise of our advisory board and of officials across government, including the Department for Work and Pensions, HM Revenue and Customs, HM Treasury, the Department of Energy and Climate Change, the Department of Health, the Department for Business, Innovation and Skills, the Government Actuary's Department, and the Office for National Statistics. We have had very useful discussions on our analysis of the health sector with John Appleby and colleagues from the King's Fund, and with Anita Charlesworth and colleagues from the Nuffield Trust. We provided the Chancellor of the Exchequer with a draft set of our projections and conclusions on 28 June, to give him the opportunity to decide whether he wished to make further policy decisions that we would be able to incorporate in the final version. He did not. We provided a full and final copy of the report 24 hours prior the publication, in line with the standard pre-release access arrangements. At no point in the process did we come under any pressure from Ministers, special advisers or officials to alter any of our analysis or conclusions. A full log of our substantive contact with Ministers, their offices and special advisers can be found on our website.
Fiscal Sustainability Report
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Author : Great Britain. Office for Budget Responsibility
language : en
Publisher:
Release Date : 2011-07-13
Fiscal Sustainability Report written by Great Britain. Office for Budget Responsibility and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-07-13 with Finance, Public categories.
This is the first annual Fiscal Sustainability Report (FSR). The FSR helps to inform the public on the long-term challenges facing the UK's public finances. The OBR's long-term projections show that without future policy change the UK will spend an increasing proportion of GDP on public services for the elderly as a result of changing demographics. This is in line with the findings of previous analysis presented by the OBR in their November 2010 Economic and fiscal outlook. The conclusions of their analysis further support the case for the government's long term fiscal reforms, including reforms to public sector pensions and the state pension age. An Unaudited Summary of the Whole of Government Accounts for the year 2009-10 has published simultaneously (Cm. 9780101812726). The key balance sheet analysis contained in this summary enhance the analysis of the sustainability of the public finances in the FSR
Economic And Fiscal Outlook
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Author : Office for Budget Responsibility
language : en
Publisher: The Stationery Office
Release Date : 2010-11-29
Economic And Fiscal Outlook written by Office for Budget Responsibility 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 2010-11-29 with Business & Economics categories.
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.
Fiscal Sustainability Report July 2013
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Author : Office for Budget Responsibility
language : en
Publisher: Stationery Office
Release Date : 2013-07-17
Fiscal Sustainability Report July 2013 written by Office for Budget Responsibility and has been published by Stationery Office this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-07-17 with Business & Economics categories.
In this third fiscal sustainability report, the OBR advise that the ageing of the population is likely to put pressure on the public finances, primarily as a result of upward pressure on public spending. As a result, some additional fiscal tightening is likely to be needed after the current crisis-related consolidation has been implemented. Since last year, the underlying deficit and debt path look less favourable. But this and the costs of long-term care reform are likely to be offset by the Government's announcement of additional spending cuts in 2017-18 and savings from the Single Tier pension.
Fiscal Rules Anchoring Expectations For Sustainable Public Finances
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Author : International Monetary Fund. Fiscal Affairs Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2009-12-11
Fiscal Rules Anchoring Expectations For Sustainable Public Finances written by International Monetary Fund. Fiscal Affairs Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-12-11 with Business & Economics categories.
The sharp increase in fiscal deficits and public debt in most advanced and several developing economies has raised concerns about the sustainability of public finances and highlighted the need for a significant adjustment over the medium term. This paper assesses the usefulness of fiscal rules in supporting fiscal consolidation, discusses the design and implementation of rules based on a new data base spanning the whole Fund membership, and explores the fiscal framework that could be adopted as countries emerge from the crisis.
Public Debt Sustainability In Developing Asia
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Author : Benno Ferrarini
language : en
Publisher: Routledge
Release Date : 2012
Public Debt Sustainability In Developing Asia written by Benno Ferrarini and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Business & Economics categories.
Addressing the global financial crisis has required fiscal intervention on a substantial scale by governments around the world. The consequent buildup of public debt, in particular its sustainability, has moved to center stage in the policy debate. If the Asia and Pacific region is to continue to serve as an engine for global growth, its public debt must be sustainable. Public Debt Sustainability in Developing Asia addresses this issue for Asia and the Pacific as a whole as well as for three of the most dynamic economies in the region: the People’s Republic of China, India, and Viet Nam. The book begins with a discussion of the reasons for increased attention to debt-related issues. It also introduces fiscal indicators for the Asian Development. Bank’s developing member countries and economies. The sustainability of their debt is assessed through extant approaches and with the most up-to-date data sources. The book also surveys the existing literature on debt sustainability, outlining the main issues related to it, and discusses the key implications for the application of debt sustainability analysis in developing Asia. Also highlighted is the importance of conducting individual country studies in view of wide variations in definitions of public expenditure, revenues, contingent liabilities, government structures (e.g., federal), and the like, as well as the impact of debt on interest rates. The book further provides in-depth debt sustainability analyses for the People’s Republic of China, India, and Viet Nam. Public Debt Sustainability in Developing Asia offers a comprehensive analytical and empirical update on the sustainability of public debt in the region. It breaks new ground in examining characteristics that are crucial to understanding sustainability and offers richer policy analysis that should prove useful for policymakers, researchers, and graduate students.
The Green Book
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Author : Great Britain. Treasury
language : en
Publisher: Stationery Office
Release Date : 2003
The Green Book written by Great Britain. 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 2003 with Business & Economics categories.
This new edition incorporates revised guidance from H.M Treasury which is designed to promote efficient policy development and resource allocation across government through the use of a thorough, long-term and analytically robust approach to the appraisal and evaluation of public service projects before significant funds are committed. It is the first edition to have been aided by a consultation process in order to ensure the guidance is clearer and more closely tailored to suit the needs of users.
Autumn Statement 2011
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Author : Great Britain. Treasury
language : en
Publisher: The Stationery Office
Release Date : 2011-11-29
Autumn Statement 2011 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 2011-11-29 with Business & Economics categories.
The Autumn Statement sets out the Government's actions in three areas: protecting the economy; building a stronger economy for the future; and fairness. This document details plans for: public spending in 2015-16 and 2016-17; raising state pension age to 67 between 2026 and 2028; setting public sector pay awards at an average of one per cent for each of the two years after current pay freeze ends; £21 billion credit easing measures to support smaller and mid-sized businesses. To build a stronger economy, the Government is funding £6.3 billion of additional infrastructure spending, £1 billion of private sector investment in regulated industries will be supported by Government guarantee, and the Regional Growth Fund for England will be increased by £1 billion. Other measures on credit easing and enterprise include: up to £20 billion National Loan guarantee Scheme; investigation of alternatives to tribunal hearings; possible changes to collective redundancy processes; two proposals for radical reform of employment law; a Seed Enterprise Investment Scheme offering 50 per cent income tax relief on investments. Education will see an extra £600 million to fund 100 more free schools, and £600 million for local authorities with the greatest demographic pressures. Housing support includes a new build indemnity scheme to increase the supply of affordable mortgage finance and a revised right to buy scheme. Fairness measures cover fuel duty, rail fares, a Youth Contract worth £940 million, and extending the offer of 15 hours free education and care a week for disadvantaged two year olds.
Kenya
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2004-01-08
Kenya written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-01-08 with Business & Economics categories.
This report of the Debt Sustainability Analysis (DSA) indicates that the envisaged strategy of a partial substitution of domestic debt by increased inflows of external grants and concessional loans, as well as a rescheduling of external debt by the Paris and London Clubs, would facilitate the achievement of debt sustainability. The DSA also confirms that such a debt rescheduling could constitute an appropriate exit strategy for Kenya. The DSA also shows that debt sustainability would improve significantly with a concessional rescheduling, particularly under the Naples terms.