OBR report shows that incoming PM’s Brexit strategy will shape their domestic strategy too

Published on

Public Finances and the Economy

The fiscal implications of the incoming Prime Minister’s Brexit strategy in the coming months will shape the government’s domestic policy strategy, rather than exist as a separate agenda, the Resolution Foundation said today (Thursday) in response to the latest Office for Budget Responsibility (OBR) Fiscal Risks Report. The 293-page report highlights several risks to the … Continued

READ MORE

£30bn windfall gives Chancellor the scope to end austerity – but it continues for lower income households

Published on

Public Finances and the Economy

A £30bn borrowing boost has given the Chancellor more than enough fiscal firepower to end austerity in his upcoming Spending Review, the Resolution Foundation said today (Wednesday) in response to the Spring Statement. The OBR delivered a slighter weaker outlook for economic growth this year – down from 1.6 to 1.2 per cent – meaning … Continued

READ MORE

Brexit votes showdown means Spring Statement will set out but not answer big questions facing UK economy 

Published on

Public Finances and the Economy

The challenges of subdued business investment, stretched consumers and austerity – all of which are coming to the fore as Brexit uncertainty grows – pose major questions for the UK economy that are unlikely to be answered in the forthcoming Spring Statement, according to a new report published today (Monday) by the Resolution Foundation. Spring … Continued

READ MORE

UK’s economic slowdown puts further strain on stagnant living standards

Published on

Public Finances and the Economy

Commenting on the ONS’ preliminary estimate of GDP growth in Q4 2018, which showed that growth has slowed to 0.2 per cent (barely a third of the UK’s pre-crisis average of 0.7 per cent) and contracted sharply in December (by 0.4 per cent), Research Director James Smith said: “Economic growth slowed markedly towards the end … Continued

READ MORE

Bank of England’s forecast for weakest growth since the crisis poses a major risk to living standards

Published on

Public Finances and the Economy

The Bank of England’s reduction of its forecast for economic growth from 1.7 per cent 1.2 per cent this year would represent the lowest growth since the financial crisis, and poses a major risk to living standards, the Resolution Foundation said today (Thursday) in response to the latest Inflation Report. The Foundation notes that if … Continued

READ MORE