This presentation considers where the Chancellor might look if he wanted to increase tax receipts by about 1% of national income – enough to pay for the promised increase in NHS spending.
In this presentation, Ben Zaranko sets out the context for the choices facing the Chancellor, considers the necessary trade-offs and describes some of the possible implications for public service spending.
Thomas Pope sets out the current state of the public finances, the outlook for the future, and some of the key economic and policy risks to the public finances in the medium and long term.
The budget is less than two weeks away. Philip Hammond will have some good news to announce on the deficit. But mostly the challenges facing the UK public finances suggest that some very difficult choices will need to be made over the next few years.
In this chapter, we set out the current state of the public finances, the outlook for the future, and some of the key economic and policy risks to the public finances in the medium and long term.
In this chapter, we provide an overview of the UK’s recent economic performance and compare it with our and other forecasters’ projections in 2016. We then present our current forecasts, based on our smooth-Brexit base case.
