NewsBot
11-Nov-22, 05:50
The Caithness Business Index (http://www.caithness-business.co.uk) has posted the following article:
The Dangerous Fiction of the "Fiscal Black Hole"
New research, published today by the Progressive Economy Forum, shows that the widely- reported £50bn "hole" in the public finances, is the result of government accountancy rules and highly uncertain forecasts, not tax or spending decisions. Using official forecasts from the Office for Budget Responsibility, economists Dr Jo Michell and Dr Rob Calvert Jump show that small changes in forecasts for future interest rates and growth, and what is counted as government debt, dramatically alter the size of the apparent "hole" in the public finances. [Read Full Article (https://caithness-business.co.uk/article/18321)]
The Dangerous Fiction of the "Fiscal Black Hole"
New research, published today by the Progressive Economy Forum, shows that the widely- reported £50bn "hole" in the public finances, is the result of government accountancy rules and highly uncertain forecasts, not tax or spending decisions. Using official forecasts from the Office for Budget Responsibility, economists Dr Jo Michell and Dr Rob Calvert Jump show that small changes in forecasts for future interest rates and growth, and what is counted as government debt, dramatically alter the size of the apparent "hole" in the public finances. [Read Full Article (https://caithness-business.co.uk/article/18321)]