The UK’s Office for Budget Responsibility (OBR) has ducked a fight with the Chancellor, making only minimal revisions to its growth forecasts and leaving its end-2009 output gap estimate unchanged. But the OBR may still have to square up to the government’s fiscal stance next spring. Today’s updated projections from the OBR were an opportunity for the new body [...]
Filed under: Uncategorized | Tagged: fiscal policy, macroeconomics, OBR, Office for Budget Responsibility, UK | Leave a Comment »
The OBR reckons that the true cost of the crisis will be about £35bn more than the Treasury had previously reckoned. And we reckon that Mr. Osborne might be only be made happy by a similar amount of fiscal tightening.
Filed under: Economics | Tagged: OBR, Office for Budget Responsibility, UK | Leave a Comment »
The OBR has lowered the GDP growth forecasts, and have gauged the economy’s potential growth rate to be lower than previously estimated. But these predictions will need to be amended as the government’s fiscal intentions become clearer.
Filed under: Economics | Tagged: GDP, OBR, Office for Budget Responsibility, UK | Leave a Comment »
Kevin Gardiner is Head of Investment Strategy, EMEA
Greg B. Davies
Greg B. Davies, PhD, is Head of Behavioural Finance
Henk Potts
Henk Potts is Market Analyst
