Government will save £1.5 billion over two years on state pensions because of estimated 100,000 excess pensioner deaths in 2020/21 due to Covid, the Office for Budget Responsibility estimates (para 3.83 - download report here )
The government and Office for Budget Responsibility also share this view. That chart on the sectoral balances reveals this. I share it again here.
Office of Budget Responsibility forecasts it will take 3 YEARS for aviation levels to return to pre-Covid levels So where is the promised sectoral deal for aviation to support a prolonged recovery? Correct, there isn't one @unitetheunion @GMB_union @BALPApilots @ProspectUnion
The Office for Budget Responsibility now expects that unemployment in the UK will peak at 6.5% at the end of this year, which is lower than what it had forecast in November and below the unemployment rate reached in 2011, in the wake of the last recession
Office for Budget Responsibility now sees ‘faster recovery’ say Rishi Sunak
A year to remember: UK economy is set to contract by the most in >300yrs due to lost productivity from coronavirus lockdowns. GDP will probably shrink by 11.3% this year, most since the year 1709, acc to Office for Budget Responsibility forecasts. (via BBG)
The UK economy could shrink by a record 35% by June, warns the Office for Budget Responsibility
@EdwardJDavey has called on both the Labour and Conservative party's to submit their election manifestos to the Office for Budget Responsibility to be independently costed following their battle to 'splash the cash'.
Office for Budget Responsibility made its first post-Brexit vote forecasts in Nov 2016. It said deficit would £68.2bn in 2016-17. It was £46bn. Forecast £59bn in 2017-18. It was £39bn. Said 2018/19 deficit would be £46bn. Likely to be closer to £30bn. Pretty big margins of error
The UK Government's Office for Budget Responsibility has released data showing that the UK is on course for the longest period of falling living standards since records began. #Brexit
Brilliant from : "Number 10 is launching a Fake News Unit while the Foreign Secretary is claiming that money the Office of Budget Responsibility says won't exist could be spent upon the NHS. If that's not fake news, then what is?"
So: the independent Office for Budget Responsibility asked for the government's plans for Brexit, for its forecasts. The government pointed the OBR to Theresa May's Florence speech – and gave them *nothing else*. So today's dismal forecasts include no Brexit impact.