Super, smashing, great: Spring Statement 2019 response

Published on

Public Finances and the Economy

The 2019 Spring Statement provided little in the way of answers. We had new OBR forecasts, with yet another fiscal windfall for the Exchequer – but the fact that they were predicated on an increasingly questionable assumption of an orderly Brexit on 29 March meant they were at risk of being out of date before … Continued

READ MORE

Spring Forward or Fall Back? The questions facing the UK economy ahead of the Spring Statement 2019

Published on by

Public Finances and the Economy

Ahead of Budgets and Spring Statements, speculation usually revolves around what the forecast will say and what the Chancellor will do. But, as with so much in UK politics in 2019, next week’s version feels different. We might expect little change in the Office for Budget Responsibility’s (OBR’s) economic and fiscal projections: yes the economy … Continued

READ MORE

Counting the cost: UK living standards since the 2016 referendum

Published on by

Public Finances and the Economy

Household incomes are around £1,500 year lower today than they were expected to be before the Brexit referendum – with the UK having experienced the sharpest income growth slowdown of any economy for which the OECD publish data. This publication focuses on the UK’s economic performance since the EU referendum, but also goes beyond the … Continued

READ MORE

How to spend it: Autumn 2018 Budget response

Published on by

Public Finances and the Economy, Tax and Welfare

Defying expectations of a quiet Budget, the Chancellor yesterday delivered a statement with bigger political and economic shifts than many anticipated. Given the task of delivering a Prime Ministerial promise to ‘end austerity’ with a parliamentary arithmetic that rules out significant tax rises, Philip Hammond seized the lifeline of a much improved public finance forecast … Continued

READ MORE

Tunnel vision: Autumn Budget 2018 and ‘ending austerity’

Published on by

Public Finances and the Economy, Tax and Welfare

In this briefing paper we explore the challenge facing the Chancellor in this year’s Budget: balancing the seemingly conflicting goals of ‘ending austerity’ and lowering debt as a share of GDP. The former comes with a price tag, while the latter precludes the option of meeting that cost simply through extra borrowing.

READ MORE

Is everybody concentrating? Recent trends in product and labour market concentration in the UK

Published on by

Public Finances and the Economy

Worries about the state of modern capitalism abound from politicians across the political spectrum. This should be no surprise, with the UK still emerging from one of the deepest recessions and squeezes on living standards in modern history. At least part of the story told by the many of the critics of our economy is … Continued

READ MORE