UK Economics Focus Budget 2004: The great growth gamble goes on Dull though this Budget was, the big surprise was that the Chancellor chose not to raise money but rather to give it away. Admittedly, the amounts are tiny – some £700m, making a net giveaway since... 17th March 2004 · 1 min read
UK Economics Focus Budget 2004 Preview Gordon Brown presents his 8th Budget next Wednesday against a significantly stronger economic backdrop than that of a year ago. Thanks to the recovery in the global economy and some favourable... 9th March 2004 · 1 min read
UK Economics Focus Pre-Budget Report 2003 As usual, the Pre-Budget Report contained little in the way of major fiscal measures. Of more interest were the new economic and fiscal forecasts, which revealed much higher public borrowing than was... 10th December 2003 · 1 min read
UK Economics Focus Pre-Budget Report 2003 - Preview Gordon Brown will present his seventh Pre-Budget Report (PBR) on December 10th against a now familiar background of rapidly escalating public borrowing. We expect him to push his forecast for Public... 3rd December 2003 · 1 min read
UK Economics Focus Fiscal clouds still gathering Recent months have seen renewed concerns over the outlook for the public finances, prompted both by the latest fiscal numbers themselves and worries over the future performance of the economy... 18th August 2003 · 1 min read
UK Economics Focus Budget 2003: Gambling on Growth Never has there been such a contrast between the thickness of the Budget Red Book and the thinness of the Budget proposals. Indeed, from a macro perspective, the measures added up to nothing at all. 9th April 2003 · 1 min read
UK Economics Focus Budget 2003 Preview Gordon Brown’s seventh Budget on April 9th will be his most challenging yet. For the second time in six months he will have to admit that his previous forecasts for the economy were too optimistic and... 13th March 2003 · 1 min read
UK Economics Focus The Government’s hidden £40bn debt The Government is understating its financial liabilities by routing a growing proportion of new spending on public services through public-private partnerships (PPP) and the private finance initiative... 20th February 2003 · 1 min read
UK Economics Focus Pre-Budget Report 2002 The upward revisions to the Chancellor’s forecasts for public borrowing are rather bigger than we and most forecasters had anticipated. Borrowing is now expected to be £9bn higher at £20bn this year... 27th November 2002 · 1 min read
UK Economics Focus Pre-Budget Report 2002 - Preview This year’s Pre-Budget Report will be very different from the last few, in which Mr Brown has taken advantage of strong economic growth and falling borrowing to make mid-year tax cuts. This time... 19th November 2002 · 1 min read
UK Economics Focus Budget 2002: A Gamble on the Economy - and the NHS The leaks about this year’s budget were half right. The increases in spending are indeed enormous, concentrated on the NHS, but the tax rises on individuals are smaller than we had been led to believe... 17th April 2002 · 1 min read
UK Economics Focus Budget 2002 Preview In contrast to his previous five Budgets, Mr Brown will present his sixth against a deteriorating fiscal background. Coupled with the pressures to maintain strong spending growth in key public... 28th March 2002 · 1 min read
UK Economics Focus Pre-Budget Report 2001 This is a slightly more generous package than we had anticipated, but not nearly as generous as the sharp upward revisions in the forecasts for borrowing over the next several years might suggest... 27th November 2001 · 1 min read
UK Economics Focus Fiscal Fears Overdone The twin prospects of war and economic weakness in the wake of the terrorist attacks on America have prompted concerns over the fiscal outlook in the UK. Speculation has increased that the Government... 5th October 2001 · 1 min read
UK Economics Focus Budget Assessment 2001 – Cautious to a Fault This is a much tighter budget than financial markets might have feared from a Chancellor awash with cash and soon to face an election. A great deal of sound and fury was made about many measures to... 7th March 2001 · 1 min read
UK Economics Focus Budget 2001 Preview Although the backdrop to the Budget of an excellent fiscal position and a strong economy is a familiar one, there are some key differences from previous years. The general election is just months away... 22nd February 2001 · 1 min read
