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Andrew Verity
BBC economics correspondent. Should mean I'm corresponding with everyone: get in touch. Views mine: facts, everyone's.
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Andrew Verity retweeted
Chris Dillow 17h
The OBR on Brexit: we're as clueless as everybody else:
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Andrew Verity 13h
You've heard of a lost decade of stagnant living standards. Now try 17 years:
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Andrew Verity retweeted
ResolutionFoundation 16h
The family finances downgrade – disposable incomes are now expected to be £540 lower than forecast in March by 2022
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Andrew Verity retweeted
ResolutionFoundation 18h
NEW updated projection for the National Living Wage. The £9 minimum wage has been pushed back from 2020 to 2022 as a result of a weaker forecast for typical pay
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Andrew Verity retweeted
Faisal Islam 17h
Uh oh... OBR assumes that the stamp duty cut will simply up house prices 1:1 “Thus the main gainers from the policy are people who already own property”
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Andrew Verity 18h
The measures in the Budget represent a net giveaway by the Chancellor next year of more than £6 billion - and the year after of £9.9bn.
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Andrew Verity 18h
The OBR is still building in a pick-up in productivity growth from its post-crisis trend. If they're wrong, the outlook for growth and the public finances is still too optimistic:
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Andrew Verity 18h
Productivity: the triumph of experience over hope. The dashed blue line is the new, less optimistic forecast by the OBR, the result of repeated disappointments:
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Andrew Verity 18h
The net effect of the Budget measures for the Chancellor to "give away" £6.5 billion next year in higher spending and lower tax receipts (Budget p.30)
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Andrew Verity 18h
"output per hour is currently 21 per cent below an extrapolation of its pre-crisis trend. By 2023 we expect this to have risen to 27 per cent." - OBR
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Andrew Verity 18h
Four years from now the economy will be 3 per cent smaller than previously expected due to weaker productivity - OBR p.15
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Andrew Verity 18h
confirms he's lifting stamp duty for first-time buyers up to £300,000. Also available on more expensive houses up to first £300,000 of purchase price.
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Andrew Verity 18h
is attacking the skills shortage in the housing industry that holds up building - caused by destruction of SME builders post-crisis. Needs doing - let's hope it works
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Andrew Verity 18h
you could always have turned over to Farming Today!
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Andrew Verity 19h
The growth forecasts reflect an economy no longer growing as it did between WWII and 2008. 1.5% growth used to be called a slowdown; now it's not forecast to get above that until 2022.
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Andrew Verity 19h
If you blinked you may have missed him saying £14.8bn headroom (for spending or tax cuts) forecast for 2021/22. That's about £11bn less than forecast last time
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Andrew Verity retweeted
Debt Resistance UK Nov 21
Replying to @andyverity
Whilst true at the national level, picture within quite different. Financial obligations are growing, both overall & as % of council spending on services. Unlike UK national debt, much LA debt is owed to EU banks like Dexia.
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Andrew Verity Nov 21
Replying to @JohnRalfe1
...with liabilities artificially inflated by policy of quantitative easing...
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Andrew Verity retweeted
Andy Walker Nov 21
A super-clear explanation from of the key importance of productivity to the UK economy
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Andrew Verity Nov 21
National debt is shrinking vs the economy. It grew £46.1bn in year to October. But economy grew faster - so down 0.2 points to 79.6% of GDP (excl banks, BoE)
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