|
?:reviewBody
|
-
The UK government will be £290 million a week worse off because of leaving the EU. That’s what the Office for Budget Responsibility expect, but it’s a hugely uncertain figure and relies on assumptions about future immigration, productivity and inflation. What we saw in the budget, in the Autumn Statement yesterday and the IFS and the OBR have confirmed this, is an announcement that we are going to see £290 million a week worse off, worse off because of this mess that we are in. Chris Leslie MP, 24 November 2016 This is correct according to one forecast, but there’s a lot of uncertainty in how these are arrived at. The Office for Budget Responsibility (OBR) has said that changes as a result of leaving the EU will see borrowing increase by £15.2 billion more than it otherwise would have by 2020/21. The Institute for Fiscal Studies has said this will mean an extra £290 million borrowed each week. This increase is due to several different predictions, including lower migration, lower productivity growth, and higher inflation. These things are all very hard to predict. Migration, for instance, has been notoriously hard to anticipate in the past, because you’re effectively guessing what people’s future decisions will be and what kind of immigration system will be in place. Stay informed Be first in line for the facts – get our free weekly email Subscribe Here’s how the forecast changed... Of course these are only forecasts, which rely on a lot of assumptions. The OBR says that this month’s forecasts are particularly uncertain because no-one knows what outcome of Brexit negotiations will have.
(en)
|
![[This page as RDF]](http://data.gesis.org/claimskg/static/rdf-icon.gif){kind=icon}