pdf only version - The Institute For Fiscal Studies
pdf only version - The Institute For Fiscal Studies
pdf only version - The Institute For Fiscal Studies
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% of national income<br />
Summary of alternative public finance forecasts:<br />
Cyclically-adjusted current budget surplus<br />
3.0<br />
2.0<br />
1.0<br />
0.0<br />
-1.0<br />
-2.0<br />
-3.0<br />
-4.0<br />
-5.0<br />
OBR, December 2012<br />
IFS: baseline<br />
IFS: Oxford Economics central case<br />
IFS: Oxford Economics 'corporate reawakening'<br />
IFS: Oxford Economics 'eurozone break-up'<br />
-6.0<br />
2012–13 2013–14 2014–15 2015–16 2016–17 2017–18<br />
1.2% of<br />
GDP<br />
(£19bn)<br />
<strong>Fiscal</strong> mandate: “cyclically adjusted<br />
current budget balance by the end of the<br />
rolling, five year forecast period”<br />
© <strong>Institute</strong> for <strong>Fiscal</strong> <strong>Studies</strong><br />
Notes and sources: see Figure 5.15 of <strong>The</strong> IFS Green Budget: February 2013.
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