pdf only version - The Institute For Fiscal Studies

More documents

Recommendations

Info

£ billion …but has announced measures to offset structural borrowing increase by 2017–18 Change in official borrowing forecasts between Nov 2010 and Dec 2012 80 70 60 50 40 30 20 10 0 -10 -20 © Institute for Fiscal Studies Increase in borrowing (without policy action) Increase in borrowing (with policy action) 2010–11 2011–12 2012–13 2013–14 2014–15 2015–16 2016–17 2017–18 • Increase in cyclical borrowing in 2017–18 has not been offset Notes and sources: see Table 5.2 of The IFS Green Budget: February 2013. Additional author calculations.
Wide range of views among forecasters about amount of spare capacity in UK economy Structural borrowing could be 1.6% of national income larger OBR Fathom Consulting EIU Schroders Investment Management Nomura Scotiabank Barclays Capital BCC Santander CBI Lombard Street Commerzbank IMF Oxford Economics Capital Economics Structural borrowing could be 2.0% of national income smaller 0% -3.1% Average of independent forecasters (excl. OBR): –3.0% -1% -2% -3% -4% -5% -6% Output gap (% of trend GDP) -7% © Institute for Fiscal Studies Notes and sources: see Figure 5.14 of The IFS Green Budget: February 2013.
Page 1 and 2: Public finances: outlook and risks
Page 3 and 4: Percentage of national income 1996-
Page 5 and 6: Percentage of national income HMT B
Page 7: £ billion George Osborne has allow
Page 11 and 12: Borrowing could be higher than the
Page 13 and 14: % of national income Summary of alt
Page 15: Key points • IFS baseline forecas

pdf only version - The Institute For Fiscal Studies

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?