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....The chancellor, Philip Hammond, revised the government’s pledge to bring down the deficit in his autumn statement last year when he set a target for a balanced budget by the middle of the next decade, rather than his predecessor’s forecast of 2020. The Office for Budget Responsibility, the Treasury’s independent forecaster, expects public sector net borrowing to increase this year and then resume its downward path. ... [Read full article on Guardian ]
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Latest Finance News related to Office For Budget Responsibility

UK budget deficit to increase this year amid living standards squeeze image
Source : Guardian [Read Article] Wednesday 21st of June 2017 10:49:47 AM
....The chancellor, Philip Hammond, revised the government’s pledge to bring down the deficit in his autumn statement last year when he set a target for a balanced budget by the middle of the next decade, rather than his predecessor’s forecast of 2020. The Office for Budget Responsibility, the Treasury’s independent forecaster, expects public sector net borrowing to increase this year and then resume its downward path. ...
Philip Hammond under pressure to spend to lure voters back to Tories image
Source : Guardian [Read Article] Saturday 17th of June 2017 03:00:41 PM
.... That was also £3bn smaller than forecast at the time of Hammond’s maiden budget in March. The government’s independent forecaster, the Office for Budget Responsibility (OBR), said in March that the deficit was expected to widen again this year to £55. ...
Pensions triple lock: What is the triple lock and will Theresa May get rid of it? image
....“This is because every time earnings grow by less than either 2½% or prices then the value of the state pension would ratchet up as a share of average earnings,” it explains. The Office for Budget Responsibility estimates that by keeping the triple lock, Government spending would increase by 1. ...
TUC urges government to help boost pay as debt nears record levels image
Source : Guardian [Read Article] Thursday 25th of May 2017 05:01:19 AM
....“The surge in household debt is putting the economy in the danger zone,” O’Grady said, in response to a TUC analysis showing that the average unsecured debt per household stood at £13,200 last year – only £100 below the record reached in 2007. On the basis of forecasts for the future course of the economy produced by the independent Office for Budget Responsibility, the TUC said household debt would reach £13,900 this year and top £15,000 before the end of the next parliament. ...
London economy subsidises rest of UK, ONS figures show image
Source : Guardian [Read Article] Tuesday 23rd of May 2017 10:26:10 AM
....Borrowing in 2016-17 was lowered by a number of one-off factors that will not be repeated this year. As a result, the Office for Budget Responsibility has forecast that the deficit will rise to £58bn in 2017-18. ...
Government borrowing at three-year April high image
Source : BBC [Read Article] Tuesday 23rd of May 2017 09:24:08 AM
....This was below the figure of £51. 7bn forecast by the Office for Budget Responsibility and was the lowest annual borrowing total since the financial year ending in March 2008. ...
'Ordinary' people image
Source : BBC [Read Article] Monday 22nd of May 2017 11:27:59 PM
....Helped by low inflation, a couple of recovery years followed, but real wages are once again falling as pay fails to keep up with inflation. Combined with the Office for Budget Responsibility's gloomy economic forecasts for the coming years, it looks likely that average real pay will be lower in the years 2011 to 2020 than it was between 2001 and 2010. ...
Growth slump as rising prices slowed consumer spending, figures to show image
....It was the lowest deficit since 2007-08, and meant that chancellor Philip Hammond essentially met his £51. 7bn target, set by by the Treasury’s independent forecaster, the Office for Budget Responsibility, at the time of the budget in March. ...
Lloyds claims taxpayers have made £900m profit from bailout image
Source : Guardian [Read Article] Wednesday 17th of May 2017 07:37:15 AM
National minimum wage increases could cost jobs, IFS warns image
Source : BBC [Read Article] Wednesday 10th of May 2017 11:30:22 PM
....When he was chancellor, George Osborne said the level should reach £9 an hour by 2020. However the Office for Budget Responsibility has estimated the figure will be £8. ...
UK will face pay squeeze this year as inflation spikes, warns thinktank image
Source : Guardian [Read Article] Wednesday 10th of May 2017 04:57:33 AM
....The prediction for a spike in inflation of 3. 4% is well above the level forecast by the Office for Budget Responsibility, the Treasury’s independent forecaster, which said earlier this year inflation would reach 2. ...
Five minute guide to ever-increasing inheritance tax  image
Source : Daily Express [Read Article] Sunday 7th of May 2017 12:01:00 AM
....The bill is expected to top £6. 2 billion within the next five years, according to the latest figures from the Office for Budget Responsibility. ...
Pensions triple lock: what you need to know image
Source : Guardian [Read Article] Thursday 27th of April 2017 01:39:07 PM
....Forecasting rises in earnings and inflation from 2017 to 2060 is a tricky business. The Office for Budget Responsibility has a go in its regular reports on the sustainability of the government’s finances. ...
UK government borrowing at lowest level since 2008 financial crisis image
Source : Guardian [Read Article] Tuesday 25th of April 2017 10:39:40 AM
....The lower deficit meant the chancellor, Philip Hammond, essentially met his £51. 7bn target for borrowing in 2016-17, as outlined by the Treasury’s independent forecaster, the Office for Budget Responsibility, at the time of the budget in March. ...
Government deficit at lowest since financial crisis, says ONS image
Source : BBC [Read Article] Tuesday 25th of April 2017 09:21:26 AM
....That was the lowest level since the financial crisis of 2008, the Office for National Statistics (ONS) said. In Chancellor Philip Hammond's Budget last month, the Office for Budget Responsibility had forecast the deficit would be slightly lower at £51. ...
A hasty election before Britain sees the hard truth of Brexit image
Source : Guardian [Read Article] Sunday 23rd of April 2017 05:59:05 AM
....At a time when this country has a surfeit of economic problems – for example, the pressure on the health service and social care, the savage cuts to the budgets of state schools, and the rise in crime associated pretty obviously with cuts to the police force – the last thing we need is Brexit on top of a misconceived austerity programme. After the election there will presumably be a July budget, accompanied by forecasts from the estimable Office for Budget Responsibility, which will begin to show the economic consequences of the government’s acceptance of a referendum that was conducted beneath a veil of ignorance and deceit. ...
Lloyds bank bailout repaid in full, says Philip Hammond image
Source : Guardian [Read Article] Friday 21st of April 2017 05:00:20 PM
.... It also does not take account of the £3. 6bn cost incurred to bail out out the bank, although the Office for Budget Responsibility has said it still expects the government to make £100m when fees from Lloyds are included. ...
How Britain can build a successful, lasting industrial strategy image
Source : Guardian [Read Article] Sunday 16th of April 2017 10:03:01 AM
....Finally, the industrial strategy goals should have independent monitoring of the progress made, or the lack of it. The government should take its industrial targets as seriously as its fiscal targets, with an independent watchdog created along the lines of the Office for Budget Responsibility. ...
North Sea oil and gas industry cost UK taxpayer £396m in 2016 image
Source : Guardian [Read Article] Tuesday 4th of April 2017 12:25:40 PM
.... But the future outlook is uncertain, given the costs of decommissioning and the fluctuations in the oil price. In March 2016 the Office for Budget Responsibility forecast that the sector would receive a net payment of £1bn a year for the next five years from UK taxpayers. ...
We’re in a fine mess if George Osborne is our last hope of halting Brexit image
.... And when the Brexiters threaten Nicola Sturgeon with dire warnings about Scotland losing its largest market, namely England, they seem unaware of the irony that the newly fashionable strategy of “no agreement is better than a bad agreement” involves England itself leaving its largest market. The furore over national insurance dominated coverage of the budget but, for me, the really interesting aspect, apart from Chancellor Philip Hammond’s choice to continue with George Osborne’s socially destructive austerity programme, was that the Office for Budget Responsibility (OBR) report on the economic and fiscal outlook contained a sober assessment of the consequences of Brexit for our economy – and it was hardly calculated to lift the spirits. ...
Brexit economy: UK faces squeeze on living standards image
Source : Guardian [Read Article] Friday 24th of March 2017 10:30:30 AM
....At his budget earlier this month, Philip Hammond was able to announce a brighter outlook for growth this year from the government’s independent forecasters. The Office for Budget Responsibility raised its forecast for GDP growth this year to 2% from 1. ...
Government borrowing falls in February image
Source : BBC [Read Article] Tuesday 21st of March 2017 11:02:34 AM
....Analysts said the figures meant the government was on track to meet revised borrowing targets. In the Budget, the Office for Budget Responsibility revised its end-of-year borrowing forecast to £51. ...
NHS trust triples injury payout to £9.3m under controversial new rules image
....In documents published after the budget, it emerged the government’s finances will take a near-£6bn hit as a result of the increased bill faced by the NHS and other parts of the public sector as a result of the changes made to the way compensation awards will now be calculated. The Office for Budget Responsibility said the government would be setting aside an extra £1. ...
Britons pay almost £2billion in extra inheritance tax over next five years image
Source : Daily Express [Read Article] Wednesday 15th of March 2017 12:01:00 AM
....8billion more than originally forecast in November. The figures were released last Wednesday by the Office for Budget Responsibility but were overlooked amid outrage over Chancellor Philip Hammond’s tax grab on the self-employed. ...
Britons pay almost £2billion in extra inheritance tax over next five years image
Source : Daily Express [Read Article] Wednesday 15th of March 2017 12:01:00 AM
....8billion more than originally forecast in November. The figures were released last Wednesday by the Office for Budget Responsibility but were overlooked amid outrage over Chancellor Philip Hammond’s tax grab on the self-employed. ...
Budget deficit beyond 2025 warns spending watchdog image
Source : BBC [Read Article] Monday 13th of March 2017 09:26:55 PM
....The Government may struggle to meet its target of clearing the deficit in public finances by 2025 according to the official spending watchdog. Robert Chote, chairman of the Office for Budget Responsibility, was giving evidence before the Commons Treasury Committee. ...
Standup chancellor shuns sit-down with Tyrie image
Source : Guardian [Read Article] Sunday 12th of March 2017 07:00:17 AM
.... Having already broken convention by abolishing future spring budgets and then using his final one to deliver a few gags (“they don’t call it the last Labour government for nothing”), Philip Hammond will be spared from explaining himself to Andrew Tyrie and co this week. Instead, the committee will play host to Robert Chote, chairman of the Office for Budget Responsibility on Monday, plus a couple of his sidekicks, before Tuesday brings an appearance by Paul Johnson, the boss of the Institute for Fiscal Studies thinktank. ...
Isas back in favour after tax allowance hike image
Source : Guardian [Read Article] Saturday 11th of March 2017 07:00:28 AM
.... It will be open to everyone aged 16 and over and have a minimum investment limit of £100 and a maximum of £3,000. The Treasury said the bond would support savers affected by low interest rates, but Maike Currie at investment firm Fidelity International said: “Anyone saving into the new investment bond will struggle to achieve a real return, with Office for Budget Responsibility expectations for inflation to rise to 2. ...
The UK economy breaks more records – for all the wrong reasons image
Source : Guardian [Read Article] Thursday 9th of March 2017 06:40:24 PM
....What’s more, the productivity growth that has been lost will never come back. That’s because the Office for Budget Responsibility believes the UK has run out of spare capacity, which means the economy cannot grow any faster without generating inflation. ...
No rights, more tax: this is Conservative ‘fairness’ for the self-employed | Frances O’Grady image
....The planned changes to universal credit are set to clobber the self-employed even harder than other working people. Hidden away in the small print of this month’s Office for Budget Responsibility report is a table showing the impact of a “minimum income floor”. ...
No pay rise for 15 years, IFS warns UK workers image
Source : Guardian [Read Article] Thursday 9th of March 2017 08:57:23 AM
.... This is completely unprecedented,” he said at the IFS’s traditional post-budget day briefing. Johnson said the latest economic outlook from the government’s independent forecaster, the Office for Budget Responsibility, implied that in the wake of the financial crisis the UK had suffered permanent losses to productivity – a measure of output per hour. ...
Budget 2017: Squeeze on family finances 'extended until 2020s' image
Source : BBC [Read Article] Thursday 9th of March 2017 07:40:05 AM
....The Treasury says it has helped poorer workers by increasing the Living Wage. The Budget watchdog - the Office for Budget Responsibility - forecast that government borrowing for 2016-17 would be £51. ...
Budget 2017: manifesto row clouds chancellor's attempt at low-key package image
....The chancellor made only glancing reference to Britain’s looming exit from the EU but said the government was intent on keeping Britain at the cutting edge of the global economy with a focus on education, skills and productivity. The independent Office for Budget Responsibility said the short-term prospects for the economy were brighter than it had envisaged in the autumn statement last November. ...
Government finances face near-£6bn hit over changes to personal injury payouts image
....The lord chancellor, Liz Truss, announced a cut to the so-called Ogden discount rate last month which is pushing up the payouts to claimants but increasing the cost to organisations such as the NHS. The Office for Budget Responsibility said the government was now setting aside an extra £1. ...
UK economy will grow 2% this year but slow next, OBR predicts image
Source : Guardian [Read Article] Wednesday 8th of March 2017 07:58:42 PM
. The UK economy will confound forecasts for a Brexit-related slowdown through 2017, but will then quickly run out of steam as rising prices hit consumer spending, the Office for Budget Responsibility has predicted. ...
Philip Hammond's budget is a long way from tackling future challenges | Larry Elliot image
....As Hammond noted, the resilience of the economy has confounded most – if not all – commentators. The economy grew a little less rapidly in 2016 than the independent Office for Budget Responsibility expected when it last reported in November, but that was because activity in the pre-referendum period was weaker than previously thought. ...
Budget 2017: NHS, families, cars - your questions answered image
Source : BBC [Read Article] Wednesday 8th of March 2017 05:14:18 PM
....The devaluation of the pound since the Brexit vote is widely forecast to push up inflation by raising the cost of imported goods. And the government - citing calculations from the Office for Budget Responsibility - says real household disposable income, per person, will drop by 0. ...
Philip Hammond breaks manifesto pledge with budget tax grab image
Source : Guardian [Read Article] Wednesday 8th of March 2017 04:05:32 PM
....Hammond said stronger than expected tax receipts had contributed to a better outlook for borrowing, but insisted it would be the wrong response to use up any of the extra headroom he created by loosening tax-and-spending rules last autumn. Revealing that the Office for Budget Responsibility (OBR) had revised its growth forecast for this year from the 1. ...
Philip Hammond keeps his powder dry with a 'boring' budget | Larry Elliott image
....Given the government’s commanding lead in the opinion polls, only pronounced weakness in the economy would have forced Hammond to provide a major fiscal boost through tax cuts and spending increases. But growth has surprised on the upside since the EU referendum last June, with the result that the Office for Budget Responsibility has revised up its forecast for 2017 from 1. ...
Self-employed hit by national insurance hike in budget image
Source : Guardian [Read Article] Wednesday 8th of March 2017 02:24:49 PM
....The changes to the taxation of dividends was criticised for “leaving the door open to massive tax avoidance” by wealthy people working for their own companies. New data published by the Office for Budget Responsibility showed that a previous increase in dividend taxes resulted in much of the benefit falling to “just 100 individuals who were able to withdraw dividends averaging £30m each from their companies before the higher tax rate took effect”. ...
UK growth forecast for 2017 revised up image
Source : BBC [Read Article] Wednesday 8th of March 2017 02:12:25 PM
....The UK economy's growth forecast for this year has been revised sharply higher by the Budget watchdog. The Office for Budget Responsibility now expects the economy to grow by 2%, up from its previous forecast of 1. ...
Budget 2017: £2bn for social care and tax rise for self-employed image
Budget expected to forecast stronger economic growth image
Source : BBC [Read Article] Tuesday 7th of March 2017 04:05:43 PM
....The Chancellor, Philip Hammond, will be announcing his budget against a backdrop of stronger economic growth. Latest economic figures from the Office for Budget Responsibility, revealed during the speech, are likely to be much better than predicted six months ago. ...
Reality Check image
Source : BBC [Read Article] Tuesday 7th of March 2017 01:31:56 AM
....The claim: Taxes could rise to their highest level as a proportion of national income since 1986-87 by 2019-20. Reality Check verdict: The Office for Budget Responsibility (OBR) forecasts suggest taxes could actually reach that level as soon as 2017-18. ...
Goodbye Spring Budget image
Source : BBC [Read Article] Tuesday 7th of March 2017 12:11:17 AM
.... . This statement will no longer be a "major fiscal event", according to the chancellor, but simply a response to forecasts from the Office for Budget Responsibility. ...
Hammond urged to tackle 'catastrophic' effect of rising inflation image
Source : Guardian [Read Article] Monday 6th of March 2017 01:13:37 PM
....6bn more than expected from some of the poorest people in the country by 2020. Torsten Bell, the thinktank’s director, warns that the pattern of external forecasts since November suggests that the Office for Budget Responsibility could revise up its inflation forecast to 2. ...
Chancellor's budget to build up Brexit reserves, not tackle NHS crisis image
....”. Last autumn, Hammond was expecting to borrow £68bn in 2016-17, but the fiscal watchdog, the Office for Budget Responsibility, is now expected to reduce this by at least £10bn, close to the level predicted before the Brexit vote. ...
Budget 2017: Hammond to tell us the Brexit vote could have been worse image
....The picture for the public finances is also looking rosier compared with Hammond’s maiden autumn statement in November. Back then, the fiscal watchdog, the Office for Budget Responsibility (OBR), overhauled its forecasts to show that the impact of the Brexit vote on the economy would force the government to borrow £122bn more than hoped over coming years. ...
Budget 2017: No 'spending sprees', Hammond warns image
Source : BBC [Read Article] Sunday 5th of March 2017 02:20:28 AM
....Wednesday's Budget takes place after the Bank of England revised up its growth forecast for this year. Paul Johnson, director of the Institute for Fiscal Studies think tank, predicted the Office for Budget Responsibility would also revise its 2017 forecast upwards. ...
UK economy cooling after post-Brexit vote growth, surveys show image
Source : Guardian [Read Article] Friday 3rd of March 2017 11:12:26 AM
.... But the slowdown in the first two months appears to show the economy could now struggle to hit the Bank’s 2% growth forecast, further delaying the first interest rate rise since 2007. Nevertheless, the underlying strength of production and output across all the sectors in the second half of last year means the economy will continue to grow, prompting the Office for Budget Responsibility to pencil in higher growth than it had expected after the Brexit vote, allowing the chancellor to reduce his borrowing forecasts. ...
Labour says £1m earners should publish tax returns image
Source : BBC [Read Article] Thursday 2nd of March 2017 03:05:40 PM
....'End discrimination'. He urged the government to appoint a politically neutral body, such as the Office for Budget Responsibility, to assess the levels of funding needed for the NHS in the long term, with 10-year budgets that show taxpayers their contributions are well-spent. ...
IFS: Growth in UK living standards worst in 60 years image
Source : Guardian [Read Article] Thursday 2nd of March 2017 07:01:10 AM
....”. The IFS said average pensioner incomes are likely to rise twice as quickly as those for the rest of the population, if earnings growth projections from the Office for Budget Responsibility (OBR) – the Treasury’s independent forecaster – prove correct. ...
'Long shadow' of financial crisis hits incomes image
Source : BBC [Read Article] Thursday 2nd of March 2017 12:18:25 AM
....The IFS has produced a report on living standards for the Joseph Rowntree Foundation, which campaigns to reduce poverty. It suggests, based on official forecasts produced for the government by the Office for Budget Responsibility, that long-term income growth is a relatively slow 2% a year. ...
Spring budget 2017: drop in government borrowing predicted image
Source : Guardian [Read Article] Tuesday 28th of February 2017 12:01:13 AM
....The budget on 8 March comes just over three months after Hammond’s autumn statement. Forecasts from the fiscal watchdog, the Office for Budget Responsibility (OBR), published at the statement in November suggested a blow to the economy from the Brexit vote would force the government to borrow an extra £122bn over the next five years compared with the outlook before the UK voted to leave the EU. ...
UK government surplus gives Philip Hammond pre-budget boost image
Source : Guardian [Read Article] Tuesday 21st of February 2017 01:33:43 PM
....4bn, the highest January gain since 1999, prompting the Treasury’s independent forecaster to say the government was on track to undershoot the £68bn deficit target at the end of the financial year. The Office for Budget Responsibility said official figures showing the deficit had tumbled to £49. ...
UK borrowing and growth better than expected for budget, says report image
Source : Guardian [Read Article] Monday 20th of February 2017 07:00:31 AM
....Britain’s economic growth and borrowing levels will both be better than previously expected when the chancellor gives his budget next month, according to a report. The economic forecasting group EY Item Club said stronger-than-expected tax receipts meant the Office for Budget Responsibility was likely to cut its borrowing forecast for the current year by £3bn to £65bn on budget day. ...
Public sector pay poised to fall by thousands in real terms, TUC says image
Source : Guardian [Read Article] Wednesday 18th of January 2017 07:22:07 AM
.... “It’s time for ministers to give public employers the freedom to negotiate with unions for pay in their sectors,” she said. Responding to the analysis, the government said the pay restraint was helping to protect jobs and it pointed to analysis from the fiscal watchdog, the Office for Budget Responsibility. ...
No one can afford to stop the new consumer credit crisis image
Source : Guardian [Read Article] Sunday 8th of January 2017 07:05:11 AM
....This is not a view shared by the Bank of England, which says it need only keep a watching brief. Its complacency is born of forecasts of the ratio between household debt and GDP made by the Office for Budget Responsibility. ...
Renewables investment in UK will fall 95% over next three years – study image
Source : Guardian [Read Article] Wednesday 4th of January 2017 01:31:36 PM
.... The thinktank said that was good news as it could free up money to spend on encouraging people to switch to lower carbon heating, which ministers have admitted is progressing slowly. A government spokesman said: “We are fully committed to a low-carbon future and the Office for Budget Responsibility recently projected that £8. ...
Chancellor failing to cancel ‘tax giveaway’ to banks, says Labour image
Source : Guardian [Read Article] Monday 2nd of January 2017 02:18:10 PM
....McDonnell said by failing to reverse the cuts in the bank levy in November’s autumn statement, Hammond was handing the big banks a rebate taxpayers could ill afford. The latest forecasts from the independent Office for Budget Responsibility, published alongside the autumn statement, showed revenue from the bank levy at £2. ...
Labour 'finds £2.6bn black hole in Treasury's tax avoidance measures' image
Source : Guardian [Read Article] Friday 23rd of December 2016 07:00:09 AM
....6bn black hole created by downgraded revenue forecasts. John McDonnell, the shadow chancellor, said that information buried in the small print of last month’s Office for Budget Responsibility report showed that three tax avoidance measures were now expected to raise significantly less than when they were first announced. ...
Government borrowing higher than expected in November image
Source : Guardian [Read Article] Wednesday 21st of December 2016 01:23:07 PM
....But the November borrowing figure was lower than last year’s £13. 2bn and put the Treasury on course to meet the Office for Budget Responsibility’s revised target for borrowing by the end of the year. ...
Brexit economy: inflation surge shows impact of vote finally beginning to bite image
Source : Guardian [Read Article] Wednesday 21st of December 2016 11:36:14 AM
.... Tourist spending was rising and exports had also been helped by the currency’s fall, which makes UK goods more competitive overseas. Since the last dashboard, the government’s independent forecasters at the Office for Budget Responsibility (OBR) have published a new outlook for the the economy. ...
Letter to Nissan about Brexit could be made public, MPs are told image
Source : Guardian [Read Article] Wednesday 14th of December 2016 08:36:20 PM
.... Labour has criticised the government for not releasing its letter to Nissan, insisting it could have done a secret deal with the company. The Office for Budget Responsibility (OBR) revealed last month that the government had refused to confirm whether any financial commitments were made to Nissan, although the head of the National Audit Office said earlier this week that he had read the letter and there was “no identifiable contingent liability”. ...
UK economy set for sluggish growth, warns business group image
Source : Guardian [Read Article] Monday 12th of December 2016 12:01:41 AM
....The BCC said based on the available economic news and its own survey of businesses, it did not expect the economy to fall into a recession – something groups such as the International Monetary Fund had warned was a risk in the event of a vote for Brexit. The BCC is forecasting the public finances will be in worse shape as a result of an economic slowdown hitting tax receipts, undershooting the already downbeat expectations of the fiscal watchdog, the Office for Budget Responsibility . ...
Doom-mongers? image
Source : BBC [Read Article] Monday 5th of December 2016 11:09:48 AM
. Following the Office for Budget Responsibility's economic forecasts, which accompanied the Autumn Statement, Iain Duncan Smith accused the official forecaster of "utter doom and gloom". ...
Demand is weak and investment’s faltering. That’s OK then image
Source : Guardian [Read Article] Sunday 4th of December 2016 07:00:07 AM
.... His message was that a boost to infrastructure spending would compensate by creating thousands of well-paid jobs in areas such as engineering, science and construction. Last week Robert Chote, chairman of the Office for Budget Responsibility (OBR), took a sword to this narrative and killed it stone dead. ...
MP asks spending watchdog to investigate Nissan Brexit deal image
Source : Guardian [Read Article] Thursday 1st of December 2016 04:21:20 PM
.... But in a letter to Tyrie, he refused to elaborate, saying only that any subsidies were “entirely within state aid and WTO rules”. The government has refused to disclose to the Office for Budget Responsibility whether it made any financial promises to Nissan ahead of the autumn statement. ...
RBS’s past sins are still shaping the bank’s future | Jill Treanor image
Source : Guardian [Read Article] Thursday 1st of December 2016 01:02:49 PM
.... Philip Hammond, the chancellor, has already admitted he has abandoned any immediate hope of selling any more of the stake. The Office for Budget Responsibility is no longer factoring in any sales during the lifetime of this parliament. ...
Tories seek positive uncertainties in a deluge of negative certainties image
Source : Guardian [Read Article] Wednesday 30th of November 2016 07:40:21 PM
. Just after the chancellor’s autumn statement, Conservative Jacob Rees-Mogg had rubbished the Office for Budget Responsibility for making unnecessarily gloomy predictions about the government’s handling of Brexit and suggested we would all soon be dancing towards fun-filled days of forever summer. ...
Philip Hammond says Nissan deal will create no new liabilities image
Source : Guardian [Read Article] Wednesday 30th of November 2016 06:42:47 PM
....”. Tyrie wrote to the chancellor after the government refused to disclose to the Office for Budget Responsibility whether it made any financial promises to Nissan ahead of the autumn statement. ...
Government starts review of 'gig' economy image
Source : BBC [Read Article] Wednesday 30th of November 2016 12:04:13 AM
....The government's Autumn Statement earlier this month indicated how the "gig economy" is also beginning to affect budget revenues, as self-employment and casual work reduce the amount of tax being paid. The Office for Budget Responsibility (OBR) estimated that in 2020/21 it will cost the Treasury £3. ...

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