Obr Fiscal And Sustainability Report 2013

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Obr Fiscal And Sustainability Report 2013

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Author : Great Britain: Parliament: House of Commons: Treasury Committee
language : en
Publisher: Stationery Office
Release Date : 2014-03-13

Obr Fiscal And Sustainability Report 2013 written by Great Britain: Parliament: House of Commons: Treasury Committee and has been published by Stationery Office this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-03-13 with Business & Economics categories.

Under the Budget Responsibility and National Audit Act 2011, the OBR is currently required to publish this 50 year projection annually. The Treasury Committee is recommending that two FSRs be produced per Parliamentary cycle: the first within a year of a general election and the second at a time in the last two years of the Parliament that the OBR considers most appropriate for informing public debate. Annual forecasting is difficult enough: the one thing you can predict is that the forecast is likely to be wrong. Fifty year projections are little more than guesswork. The main value of the OBR's Fiscal Sustainability Report is not in the numbers generated but in flagging up - in broad aggregates - the possible long-term fiscal consequences of big government decisions. Two projections a Parliament should be ample: one reflecting measures at the end of the first year, during which incoming governments tend to enact their more far-reaching reforms, and one in the run-up to the general election, with the purpose of improving the quality of public debate

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 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

The Office For Budget Responsibility And The Politics Of Technocratic Economic Governance

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Author : Ben Clift
language : en
Publisher: Oxford University Press
Release Date : 2023-03-14

The Office For Budget Responsibility And The Politics Of Technocratic Economic Governance written by Ben Clift and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-03-14 with Political Science categories.

The Office for Budget Responsibility and the Politics of Technocratic Economic Governance is about the politics of economic ideas and technocratic economic governance. It is also a book about the changing political economy of British capitalism's relationship to the European and wider global economies. It focuses on the creation in 2010 and subsequent operation of the independent body created to oversee fiscal rectitude in Britain, the Office for Budget Responsibility (OBR). More broadly, it analyses the politics of economic management of the UK's uncertain trajectory, and of British capitalism's restructuring in the 2010s and 2020s in the face of the upheavals of the global financial crisis (GFC), Brexit and COVID. A focus on the intersection between expert economic opinion of the OBR as UK's fiscal watchdog, and the political economy of British capitalism's evolution through and after Brexit, animates a framework for analysing the politics of technocratic economic governance. The technocratic vision of independent fiscal councils fails to grasp a core political economy insight: that economic knowledge and narratives are political and social constructs. The book unpacks the competing constructions of economic reason that underpin models of British capitalism, and through that inform expert economic assessment of the UK economy. It also underlines how contestable political economic assumptions undergird visions of Britain's international economic relations. These were all brought to the fore in economic policy debates about Britain's place in the world, which in the 2010s centred on Brexit. This book analyses OBR forecasting and fiscal oversight in that broader political context, rather than as a narrowly technical pursuit.

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.

Budget 2014

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Author : Great Britain: H.M. Treasury
language : en
Publisher: The Stationery Office
Release Date : 2014-03-19

Budget 2014 written by Great Britain: H.M. 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 2014-03-19 with Business & Economics categories.

Budget 2013 (HC 1033) announces further detail on the Government's deficit reduction plans, new steps to ensure monetary policy continues to support the economy with a new remit for the Monetary Policy Committee (MPC), and further measures to ease the long-term pressure on the public finances. Central Government departmental expenditure limits will be reduced by 1.1 billion in 2013-14 and by 1.2 billion in 2014-15, with the funds used to support housing. Schools and health budgets will remain unchanged; and public sector pay awards will be limited to an average of 1%. Budget 2013 is fiscally neutral - action to promote growth includes: (i) a reduction in corporation tax by 1% in April 2015; (ii) a 2000 employment allowance per year from April 2014 designed particularly to help charities and small businesses with employer's National Insurance contributions, (iii) a capital spending increase of 3 bi

Fiscal Risks Sources Disclosure And Management

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Author : International Monetary Fund. Fiscal Affairs Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2008-05-31

Fiscal Risks Sources Disclosure And Management 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 2008-05-31 with Business & Economics categories.

A number of member countries have expressed interest in advice regarding disclosure and management of fiscal risks (defined as the possibility of deviations of fiscal outcomes from what was expected at the time of the budget or other forecast). This paper analyzes the main sources of fiscal risks and—building on an overview of existing practices in a wide range of countries—provides practical suggestions in this area, including a possible Statement of Fiscal Risks and a set of Guidelines for Fiscal Risk Disclosure and Management.

Scotland Analysis Macroeconomic And Fiscal Performance Cm 8694

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Author : Great Britain: H.M. Treasury
language : en
Publisher: The Stationery Office
Release Date : 2013-09-03

Scotland Analysis Macroeconomic And Fiscal Performance Cm 8694 written by Great Britain: H.M. 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 2013-09-03 with Business & Economics categories.

In September 2014 people in Scotland will take one of the most important decisions in the history of Scotland and the whole of the United Kingdom (UK) - whether to stay in the UK, or leave it and become a new, separate and independent state. In advance of the referendum, the UK Government will ensure through the Scotland analysis programme that the debate is properly informed by analysis, and that the facts crucial to considering Scotland's future are set out. This paper sets out the role of economic and fiscal integration in shaping Scotland's economic performance as part of the UK and describes some of the potential economic and fiscal consequences of independence. It follows the fourth paper in the Scotland analysis series, Scotland analysis: Business and microeconomic framework, which sets out how the UK's domestic market is a key part of Scotland's successful business environment

Summer Budget 2015

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Author : Great Britain: H.M. Treasury
language : en
Publisher:
Release Date : 2015-07-08

Summer Budget 2015 written by Great Britain: H.M. Treasury and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-07-08 with categories.

Print and web pdfs available at https://www.gov.uk/government/publications. Known as the Red Book. Published alongside Office for Budget Responsibility's Economic & Fiscal Outlook July 2015 (Cm. 9088, ISBN 9781474122870). On title page: Return to an order of the House of Commons dated 8 July 2015. Copy of the budget report - July 2015 as laid before the House of Commons by the Chancellor of the Exchequer when opening the Budget Web ISBN=9781474122740

The Cost Of Future Policy Intertemporal Public Sector Balance Sheets In The G7

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Author : Yugo Koshima
language : en
Publisher: International Monetary Fund
Release Date : 2021-05-06

The Cost Of Future Policy Intertemporal Public Sector Balance Sheets In The G7 written by Yugo Koshima 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 2021-05-06 with Business & Economics categories.

This paper compiles the Intertemporal Public Sector Balance Sheets for all G7 countries and examines their relationship with government borrowing costs. In 2018, all G7 countries have negative Intertemporal Net Financial Worth (INFW), falling short of their intertemporal budget constraint. A decomposition of the evolution of INFW shows that short-term fluctuations are mainly driven by fiscal policy changes, while in the long run demographic changes and health and pension obligations play a larger role. We find that on average a 10 percentage point of GDP increase in INFW reduces the (future) 10-1 year sovereign yield curve spread by 2.8 basis points. This results suggest that financial markets pay attention to governments’ future policy obligations, in addition to its current assets and liabilities.