Home eBooks Download › office for budget responsibility

Office For Budget Responsibility

Download Office For Budget Responsibility PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Office For Budget Responsibility book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page

Economic And Fiscal Outlook March 2012

DOWNLOAD
Author : Office for Budget Responsibility
language : en
Publisher: The Stationery Office
Release Date : 2012-03-21

Economic And Fiscal Outlook March 2012 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 2012-03-21 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 2016-17. The report also assesses whether the Government is on course to meet the medium-term fiscal objectives. The OBR assessment of the outlook and risks for the UK economy is broadly unchanged since the November 2011 report. A technical recession will be avoided with positive growth in the first quarter of 2012. GDP will grow by 0.8% in 2012, 2% in 2013, 2.7% in 2014 and 3% for 2015-16 period. Public sector net borrowing is forecast to total £126 billion, 8.3% of GDP this year which is £1.1 billion less than the November forecast. For 2016-17, the PSNB is then forecast to decline to £21 billion. The fall in PSNB in 2012-13 is much larger than the OBR's November forecast due to the Government's decision to transfer the Royal Mail's historic pension deficit. The Chancellor's decision to cut 50% additional rate income tax to 45% has an estimated direct cost to the Exchequer of £0.1 billion in 2013-14. Other forecasts by the OBR, include: the ILO unemployment rate to rise from 8.4% to 8.7% over the coming year; household disposable income growth to be weak in 2012-13, but consumption to begin to offer some support to the recovery in the second half of the year; that the situation in the euro area remains a major risk to accurate forecasting. The publication is divided into five chapters: Chapter 1: Executive summary; Chapter 2: Developments since the November 2011 forecast; Chapter 3: economic outlook; Chapter 4: Fiscal outlook; Chapter 5: Performance against the Government's fiscal targest; Annex A - Budget 2012 policy measures.

Office For Budget Responsibility

DOWNLOAD
Author : Great Britain. Office for Budget Responsibility
language : en
Publisher:
Release Date : 2014

Office For Budget Responsibility 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 2014 with categories.

Office For Budget Responsibility

DOWNLOAD
Author : Office for Budget Responsibility
language : en
Publisher: The Stationery Office
Release Date : 2011-11-29

Office For Budget Responsibility 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 2011-11-29 with Business & Economics categories.

This economic and fiscal outlook sets out the Office for Budget Responsibility (OBR) forecast for the period to 2016-17. The economy has grown less strongly than forecast in March primarily because higher-than-expected inflation has squeezed household incomes and consumer spending. The eurozone crisis has impacted on business and consumer confidence. Consequently the OBR has revised it growth forecasts downwards. It expects the underlying momentum of the economy to pick up through 2012 but with the headline measure of GDP broadly flat until the second half. The central forecast is now for 0.7 per cent growth in GDP in 20102, 2.1 per cent in 2013, 2.7 per cent in 2014, and 3 per cent in 2015 and 2016. Public sector net borrowing (PSNB) is expected to total £127 this year (8.4 per cent of GDP), but the downward revision of growth forecasts means the deficit will shrink less quickly over the next five years, with a forecast £53 billion PSNB (2.9 per cent of GDP) in 2015-16. Unemployment is expected to rise further to 8.7 per cent in 2012 before falling back to 6.2 per cent by 2016. The OBR estimates that the Government has a roughly 60 per cent of meeting its mandate to balance the structural or cyclically-adjusted current budget by 2016-17. The central economic and fiscal forecasts assume that the euro area finds a way through its current crisis, but a more disorderly outcome is clearly a significant risk.

Economic And Fiscal Outlook

DOWNLOAD
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.

Economic And Fiscal Outlook

DOWNLOAD
Author : Office for Budget Responsibility
language : en
Publisher: Stationery Office
Release Date : 2010-11-29

Economic And Fiscal Outlook 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 2010-11-29 with Business & Economics categories.

Economic And Fiscal Outlook December 2013

DOWNLOAD
Author : Office for Budget Responsibility
language : en
Publisher: Stationery Office
Release Date : 2013-12-05

Economic And Fiscal Outlook December 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 2013-12-05 with Business & Economics categories.

The Office for Budget Responsibility reports that the UK economy has picked up more strongly in 2013 than expected in its March forecast. Private consumption and housing investment have grown whilst business investment and net trade continue to disappoint. The forecast for GDP growth in 2013 is revised up to 1.4 per cent, but this is not expected to be maintained in 2014 as productivity and real earnings growth remain weak. The positive growth is judged to be cyclical, reducing the amount of spare capacity in the economy, rather than indicating stronger underlying growth potential. Productivity-driven growth in real earnings is necessary to sustain the recovery and the outlook for productivity growth is the key uncertainty. Nevertheless, the forecast for growth in 2014 is now 2.4 per cent. Public sector net borrowing (PSNB) - the gap between what the Government spends and raises in revenue - is forecast to be £111.2 billion this year, £8.6 billion lower than the March forecast and £3.8 billion lower than in 2012-13. Underlying PSNB is estimated to have fallen by a third between 2009-10 and 2012-13, the pace of reduction slowing in 2012-13. The employment forecast is now expected to reach 31.2 million in 2018, with unemployment falling steadily over the coming years, reaching 7 per cent in mid-2015 and 6 per cent by the end of 2017. CPI inflation is forecast to fall back to the Bank of England's 2 per cent target during 2016 whilst house price inflation is revised upwards, expected to be above 5 per cent in 2014 and 7 per cent in 2015.

Office For Budget Responsibility Annual Report And Accounts 2011 12

DOWNLOAD
Author : Great Britain. Office for Budget Responsibility
language : en
Publisher:
Release Date : 2012-06-19

Office For Budget Responsibility Annual Report And Accounts 2011 12 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 2012-06-19 with Expenditures, Public categories.

Office For Budget Responsibility

DOWNLOAD
Author : Great Britain. Parliament House of Commons. Treasury Committee
language : en
Publisher:
Release Date : 2010

Office For Budget Responsibility written by Great Britain. Parliament House of Commons. Treasury Committee and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Budget categories.

This is the fourth report from the Treasury Committee (HCP 385, session 2010-11, ISBN 9780215554796), and looks at the Office for Budget Responsibility. The Office was established by the Chancellor of the Exchequer and given responsibility, as an independent body, for the Government's budget forecast. The Committee sets out a number of recommendations for the body to succeed in its' independent role, including: a) establishment of the OBR as an institution with its own legal personality; b) a requirement on the OBR to act transparently, objectively, and independently; c) a clear remit and set of core tasks; d) a requirement that the responsible select committee should have a veto over appointment or dismissal of the Chair; e) provision for a small group of non-executive directors to support the Budget Responsibility Committee; f) a requirement that government officials support the OBR when it is preparing forecasts; g) a requirement that the OBR has a right of access to the information it needs. The legislation establishing the OBR should not require future governments to use OBR forecasts. The Committee further states that a great deal will depend on matters which cannot be provided for directly in statute, in particular the calibre of the members of the Budgetary Responsibility Committee and of the non-executive directors. For the OBR to succeed, it is vital that it commands confidence across party boundaries and that the OBR's work should lead to greater public understanding of the purpose and limitations of the forecasting process, and realistic expectations of what it can deliver.

Office For Budget Responsibility Annual Report And Accounts 2013 14

DOWNLOAD
Author : Great Britain. Office for Budget Responsibility
language : en
Publisher:
Release Date : 2014

Office For Budget Responsibility Annual Report And Accounts 2013 14 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 2014 with Expenditures, Public categories.

Hc 514 Reviewing The Office For Budget Responsibility

DOWNLOAD
Author : Great Britain. Parliament. House of Commons. Treasury Committee
language : en
Publisher: The Stationery Office
Release Date : 2016

Hc 514 Reviewing The Office For Budget Responsibility 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 2016 with Business & Economics categories.

The Budget Responsibility and National Audit Act 2011 requires that the OBR be externally reviewed at least once every five years. Legislation requires that the OBR's non-executive Committee commission a suitably qualified person or body to lead the review. The OBR's first statutory external review was led by Kevin Page, former Parliamentary Budget Officer for Canada. It reported on 3 September 2014. In Autumn Statement 2013, the previous Government announced its intention to conduct its "own review of the OBR at the start of the next Parliament". The review, which was announced on 11 June 2015, was commissioned by the Chancellor and led by the Treasury's Chief Economic Adviser, Sir David Ramsden. At the same time as the review made public its report, the Government issued a press release accepting "all [its] recommendations in full". The same press release announced the Chancellor's support for Robert Chote to be reappointed as chairman of the OBR. Both the external and Treasury-led reviews are described on the gov.uk website as "Independent report[s]". In his reappointment hearing on 15 September 2015, Robert Chote was asked by the Committee about the independence of the Treasury-led review, and in particular whether the Chancellor's view coloured its outcome, Mr Chote said "It is a Treasury review; it is not pretending to be an independent review in that sense". Sir David's conclusions are consequently of little relevance for assessing the independence and effectiveness of the OBR's work. This report also discusses the review process generally

Office For Budget Responsibility

Recent Posts