LONDON, March 15 (Reuters) - Finance minister Jeremy Hunt announced on
Wednesday a plan that he hopes will speed up Britain's stagnating economy,
including childcare and tax reforms to get more people into work and corporate
tax breaks to boost low levels of business investment.
Following are the key economic and fiscal forecasts produced by the Office
for Budget Responsibility, on which the government's spending plans are based.
ECONOMIC FORECASTS
2023 2024 2025 2026 2027
GDP (% yy) -0.2 1.8 2.5 2.1 1.9
Previous -1.4 1.3 2.6 2.7 2.2
CPI (% yy) 6.1 0.9 0.1 0.5 1.6
Previous 7.4 0.6 -0.8 0.2 1.7
FISCAL FORECASTS
PUBLIC SECTOR NET BORROWING
2022/23 2023/24 2024/25 2025/26 2026/27 2027/28
Bln stg 152.4 131.6 85.4 76.7 63.5 49.3
Previous 177.0 140.0 84.3 76.9 80.3 69.2
% of GDP 6.1 5.1 3.2 2.8 2.2 1.7
Previous 7.1 5.5 3.2 2.8 2.9 2.4
CURRENT BUDGET DEFICIT
2022/23 2023/24 2024/25 2025/26 2026/27 2027/28
Bln stg 93.7 57.9 14.5 8.0 -1.0 -12.9
Previous 114.4 64.5 13.4 8.7 14.4 5.6
% of GDP 3.7 2.3 0.5 0.3 0.0 -0.4
Previous 4.6 2.5 0.5 0.3 0.5 0.2
PUBLIC SECTOR NET DEBT (EXCLUDING BANK OF ENGLAND)
2022/23 2023/24 2024/25 2025/26 2026/27 2027/28
Bln stg 2,250 2,421 2,545 2,649 2,750 2,840
Previous 2,270 2,473 2,595 2,695 2,802 2,903
% of GDP 88.9 92.4 93.7 94.6 94.8 94.6
Previous 89.9 95.9 97.2 97.6 97.6 97.3
(Compiled by Andy Bruce; editing by William James)
william.schomberg.reuters.com@reuters.net))
