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Author: Great Britain. Parliament. House of Commons. Treasury Committee Publisher: The Stationery Office ISBN: 0215081536 Category : Business & Economics Languages : en Pages : 88
Book Description
The Treasury has again been unable to provide all the information needed by deadlines agreed with the OBR. The Government may, as the Chairman of the Office for Budget Responsibility suggested, have decided that for political reasons this was a "price worth paying." This would set an undesirable precedent. The work of the Office for Budget Responsibility depends on the Treasury meeting the agreed deadlines. The Committee welcomes the OBR's innovation of providing uncertainty ratings for policy costings. The Committee recommends in future that the OBR publish a breakdown of the uncertainty rating assessment against the three criteria for all announced measures at Autumn Statements and Budgets. The Committee also welcomes the Government's continued publication of the distributional analysis of the Government's policy changes and recommends that the next Government continue with this important aid to transparency. The current inflation target set by the Government is symmetrical, and is 2 per cent at all times. Several witnesses alluded to the risks of very low inflation and subsequent deflation, including the Chancellor. The Chancellor has publicly welcomed the current level of inflation. This is not likely to help anchor inflationary expectations. The Governor of the Bank of England is required to write to explain to the Chancellor why inflation has fallen below 1 per cent. It is important to avoid mixed messages on inflation targeting. The Bank of England should undertake research on the effect of net migration, and the potential for future net migration, on the supply of labour and wage growth as part of the work on meeting the MPC's remit. The Treasury should ensure that discussions within Government on immigration policy fully consider the requirements of the economy.
Author: Great Britain. Parliament. House of Commons. Treasury Committee Publisher: The Stationery Office ISBN: 0215081536 Category : Business & Economics Languages : en Pages : 88
Book Description
The Treasury has again been unable to provide all the information needed by deadlines agreed with the OBR. The Government may, as the Chairman of the Office for Budget Responsibility suggested, have decided that for political reasons this was a "price worth paying." This would set an undesirable precedent. The work of the Office for Budget Responsibility depends on the Treasury meeting the agreed deadlines. The Committee welcomes the OBR's innovation of providing uncertainty ratings for policy costings. The Committee recommends in future that the OBR publish a breakdown of the uncertainty rating assessment against the three criteria for all announced measures at Autumn Statements and Budgets. The Committee also welcomes the Government's continued publication of the distributional analysis of the Government's policy changes and recommends that the next Government continue with this important aid to transparency. The current inflation target set by the Government is symmetrical, and is 2 per cent at all times. Several witnesses alluded to the risks of very low inflation and subsequent deflation, including the Chancellor. The Chancellor has publicly welcomed the current level of inflation. This is not likely to help anchor inflationary expectations. The Governor of the Bank of England is required to write to explain to the Chancellor why inflation has fallen below 1 per cent. It is important to avoid mixed messages on inflation targeting. The Bank of England should undertake research on the effect of net migration, and the potential for future net migration, on the supply of labour and wage growth as part of the work on meeting the MPC's remit. The Treasury should ensure that discussions within Government on immigration policy fully consider the requirements of the economy.
Author: Great Britain: H.M. Treasury Publisher: The Stationery Office ISBN: 9780101848022 Category : Business & Economics Languages : en Pages : 100
Book Description
The OBR's forecast for GDP growth in 2012 is -0.1 percent and is projected to pick up in every year of the forecast. Public Sector Net Borrowing is forecast to fall by 1.0 percent of GDP in 2012-13 and in subsequent years of the forecast. Public Sector Net Debt is expected to be 79.9 per cent of GDP in 2015-16 before falling to 77.3 per cent by 2017-18. This Statement sets out a further £6.6 billion package of savings in the spending review period, made up from welfare, Official Development Assistance (ODA) and departmental current spending. A £5.5 billion of additional infrastructure will be funded, including in new roads, science and free schools and academies. There will be a further 1 per cent cut in the main rate of corporation tax from April 2014, to 21 per cent and a significant temporary increase in the Annual Investment Allowance from £25,000 to £250, 000 for two years. A greater proportion of growth-related spending will be devolved to local areas and a Business Bank will be created to deploy £1 billion of additional capital and enable UK Export Finance to provide up to £1.5 billion in loans with a package of reforms to promote export. The Government will: increase the basic State Pension by 2.5 percent; create an HM Revenue & Customs unit dedicated to tackling offshore tax evasion; introduce of the UK's first General Anti-abuse Rule; develop significant new information disclosure and penalty powers; and close off tax loopholes. Lifetime allowances for pension contributions will be reduced.
Author: Great Britain. Treasury Publisher: The Stationery Office ISBN: 9780101874724 Category : Business & Economics Languages : en Pages : 126
Book Description
Despite the improvement in the public finances, this year's Autumn statement is fiscally neutral and locks in lower spending by reducing departmental budgets for 2014-15 and 2015-16 by 1.1% but excluding local government, Security & Intelligence Agencies and HMRC. The Government will: cap the Retail Prices Index in business rates to 2% in 2014-15 and extend the doubling of Small Business Rate Relief to April 2014; will provide a business rate discount of £1,000 in 2014-15 and 2014-16 for retail properties with a rateable value of up to £50,000 and a 50% discount from business rates for new occupants of previously empty retail premises for 18 months; abolish National Insurance Contributions for under 21 year olds on earnings up £813 per week; remove cap on higher education student numbers; announce further reforms to make the most of the UK's science base; introduce a new tax relief for shale gas, and increase support for employee ownership and the creative industries; improve the UK's infrastructure with the National Infrastructure Plan 2013; and take further action to increase housing supply and support home ownership. Fuel prices will be frozen and the impact of policies on energy bills will be reduced. The average increase in rail fares will capped. Married couples & civil partners will be allowed to transfer £1,000 of their income tax personal allowance to their spouse where neither is a higher rate taxpayer.
Author: M. Beech Publisher: Springer ISBN: 1137461373 Category : Political Science Languages : en Pages : 296
Book Description
This book offers a unique full term analysis of the Cameron-Clegg Government. From austerity to gay marriage, the Scottish referendum to combating IS, it brings together expert academic voices to provide rigorous yet readable insights on the key areas of government politics and the debates which will shape the 2015 general election.
Author: I.Q. Hunter Publisher: Taylor & Francis ISBN: 1315392178 Category : History Languages : en Pages : 473
Book Description
This book offers a comprehensive and revisionist overview of British cinema as, on the one hand, a commercial entertainment industry and, on the other, a series of institutions centred on economics, funding and relations to government.
Author: Brian Lund Publisher: Policy Press ISBN: 144732708X Category : Political Science Languages : en Pages : 368
Book Description
Affordable housing in the United Kingdom has become an ever more potent issue in recent years, as rapid population growth and a long-term lag in new housing construction have combined to making finding secure, affordable housing difficult for a broad range of people. This book uses insights from public choice theory, the new institutionalism, and social constructionism to lay bare the historically entrenched power relationships among markets, planners, and electoral politics that have made this problem seem so intractable.
Author: Great Britain. Parliament. House of Commons. Transport Committee Publisher: The Stationery Office ISBN: 0215081153 Category : Business & Economics Languages : en Pages : 64
Book Description
The Transport Committee welcomes record investment committed to the 'classic' rail network but calls for greater regional balance in spending. Network Rail must also regain the confidence of passengers following recent disruption. The Committee calls for the Government to take responsibility for rolling stock, to address general shortages and ensure there will be sufficient trains to run on newly-electrified lines. The Committee also concluded: (i) Record levels of funding show a welcome commitment to ’classic' rail but this should be set in a longer-term strategic plan for the rail network, which ties into a wider transport strategy; (ii) The overrunning Christmas engineering works were unacceptable; (iii) Network Rail must have adequate contingency plans. They must also work with Passenger Focus and train operating companies to improve communication with passengers when engineering works fail; (iv) In the light of the change of status of Network Rail the ORR must reconsider whether fining a public sector body remains an effective means for the regulator to exert control; (v) Greater transparency is essential around rail spending. Criteria used to allocate spending should be published.
Author: Mary O'Hara Publisher: Policy Press ISBN: 1447374533 Category : Political Science Languages : en Pages : 406
Book Description
Austerity has proven deadly. Over the last decade, the damage caused by austerity measures in the UK has had a long-lasting and profound effect on many lives. The first edition of Austerity Bites offered on-the-ground reportage of one of the most significantly regressive economic strategies of any post-war government. Over a year Mary O’Hara toured the UK to gauge the immediate impact – and expectations of people affected – and found many clinging to the hope that austerity cuts would not last long as the damage became increasingly apparent. Alas, this was not how things unfolded. Instead, much of the Welfare State had its vital support systems systematically undermined. The public sector, including the NHS, is now on its knees. Schools are buckling under multiple structural and budgetary pressures. Councils – even big ones – are going broke. Homelessness is rampant. While Brexit, the pandemic, and war have no doubt impacted the economic health of the country, previous austerity cuts left the UK less prepared to weather such extraordinary events. With new commentary, Austerity Bites 10 Years On assesses on the true scale of the damage these policies have inflicted on the country’s most vulnerable groups, public institutions and on the wider society. It reflects on where we have been, where we are now and what needs to happen next to undo the damage and avoid the same mistakes again.
Author: Great Britain. Parliament. House of Commons. Treasury Committee
Author: Great Britain. Parliament. House of Commons. Treasury Committee
Author: 
Author: Great Britain. HM Treasury
Author: Great Britain: H.M. Treasury
Author: Great Britain. Treasury
Author: M. Beech
Author: I.Q. Hunter
Author: Brian Lund
Author: Great Britain. Parliament. House of Commons. Transport Committee
Author: Mary O'Hara