Sunak updates fiscal rules as OBR revises growth forecast

Unemployment forecast is downgraded in chancellor’s Autumn Budget

Lauren Mason
clock • 2 min read
The Chancellor does a final run-through of his Budget speech Photo: Flickr/HMTreasury
Image:

The Chancellor does a final run-through of his Budget speech Photo: Flickr/HMTreasury

The Office for Budget Responsibility (OBR) has downgraded its unemployment forecast and increased its growth projections, according to chancellor Rishi Sunak in today's (27 October) Autumn Budget, who also told Parliament he will publish a new charter for budget responsibility.

The OBR's revised growth forecast has increased from 4.5% to 6.5% for 2021, followed by 6% in 2022 and 2.1%, 1.3% and 1.6% over the next three years respectively. Meanwhile, the OBR downgraded i...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

More on Investment

Partner Insight: What's next for real assets in a changing landscape?

Partner Insight: What's next for real assets in a changing landscape?

Despite the uncertainty surrounding interest rates and inflation, global appetite for real assets remains strong.

Aviva
clock 19 April 2024 • 1 min read
Partner Insight: Investors are upbeat on real assets even as interest rate path remains uncertain

Partner Insight: Investors are upbeat on real assets even as interest rate path remains uncertain

Investors expect good returns from real assets this year, especially in real estate equity and infrastructure, according to Aviva Investors’ Real Assets Study 2024.

Sarka Halas
clock 19 April 2024 • 2 min read
 Stories of the week: FCA; PDP; WTW

Stories of the week: FCA; PDP; WTW

Industry warns of 'dire' pensions landscape; PDP announces staff shake up; WTW to launch private equity LTAF

Sarka Halas
clock 19 April 2024 • 1 min read
Trustpilot