This 2016 report comes at a crucial juncture at the beginning of a new parliament where the political debate is currently polarised. By providing an independent, evidence-based commentary on the economic choices and challenges that we face, it offers perspective for policymakers as well as the wider electorate.
In a series of chapters, this report addresses issues which affect the economy. After providing an account of the state of the global economy, the second chapter assesses the short and medium term outlook for growth in the UK economy.
Chapter three offers a response to fiscal policy when committing to a path of budget responsibility, and the following chapters assess the impact of this choice on tax revenues and public spending. Sections on Whole of Government Accounts and Universal Credit include detailed analysis of statistics.
This report provides a detailed, independent and rigorous analysis of our economy, tax policy and public finances, and considers the various options available to the Chancellor.