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Oct 5, 2017
10/17
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billion war chest he has to help us through brexit is going to be wiped out because the office for budget responsibilityay that growth is down. the big thing creating this, a drop in productivity which is something that all chancellors, george osborne would talk about getting it up, and now they say that it isn't going up fast enough. getting it up, and now they say that it isn't going up fast enoughm puts him in a pickle because the pressure on the tory party is to spend a bit more money with people talking about housing and tuition fees. people like some of the labour party messages from the summer and so the chancellor and foreign minister are under pressure to increase spending significantly. people say, why don't you do something radical on tuition fees to bring back support? those things cost money and if this report is correct, and it is in the ft, a good source, it appears that in one fell swoop, the head room that the chancellor may be thought he had to splash some cash next month has disappeared. and the public sector pay cap as well. we were asking people at the conference last week, various
billion war chest he has to help us through brexit is going to be wiped out because the office for budget responsibilityay that growth is down. the big thing creating this, a drop in productivity which is something that all chancellors, george osborne would talk about getting it up, and now they say that it isn't going up fast enough. getting it up, and now they say that it isn't going up fast enoughm puts him in a pickle because the pressure on the tory party is to spend a bit more money with...
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Oct 10, 2017
10/17
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have less money to play with in next month's budget, as forecasts for the uk's productivity growth have been downgraded. the office for budget responsibilityasis of budget decisions, says the first half of 2017 has seen productivity fall significantly, and it will also lower its predictions for the next five years. 0ur economics editor, kamal ahmed, joins me now. how much of below is this likely to be for the chancellor? it makes his budget calculations trickier. the next budget will be on the 22nd of november, productivity is the engine of the economy, it is how we produce wealth and how we pay people. we have had stagnation in wages for seven of the last ten years. if we have poor productivity figures which is what the 0br has said there are in britain, that means tax revenues are in britain, that means tax revenues a re lower in britain, that means tax revenues are lower because we are not earning as much money, businesses are not earning as much money, we are not paying as much tax, it puts at risk the government's plans to cut the deficit and balance the books by the middle of the next decade which is what they said they want to do. t
have less money to play with in next month's budget, as forecasts for the uk's productivity growth have been downgraded. the office for budget responsibilityasis of budget decisions, says the first half of 2017 has seen productivity fall significantly, and it will also lower its predictions for the next five years. 0ur economics editor, kamal ahmed, joins me now. how much of below is this likely to be for the chancellor? it makes his budget calculations trickier. the next budget will be on the...
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Oct 25, 2017
10/17
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budget is next month. what does this mean for the chancellor? he has been under a lot of pressure lately. the office for budget responsibilityas said he will have less money to play with over the future. and he is under a lot of pressure to loosen some of the austerity, increase public sector pay rates, which we saw in recent weeks. from his point of view, a stronger economy is better. this was better than expected. in his view, every little helps. this isa his view, every little helps. this is a little bit of help for him. simonjack, is a little bit of help for him. simon jack, thank you. the brexit secretary has said that parliament might not get a vote on any brexit deal, until after the uk leaves the eu. david davis told a committee of mps that he hopes to get an agreement finalised with the european commission by the time the uk leaves in 2019, but ratification could happen after that date. ben wright reports. as we head towards our departure from the eu in 2019, parliament is scrutinising the government's strategy. it will have the vote on the terms of the exit deal ministers are negotiating. but today the brexit secre
budget is next month. what does this mean for the chancellor? he has been under a lot of pressure lately. the office for budget responsibilityas said he will have less money to play with over the future. and he is under a lot of pressure to loosen some of the austerity, increase public sector pay rates, which we saw in recent weeks. from his point of view, a stronger economy is better. this was better than expected. in his view, every little helps. this isa his view, every little helps. this is...
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Oct 6, 2017
10/17
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basically, next week the office for budget responsibility, is expected to say we think because of thisl be less than we thought it would be, as a result may be spending the spare change in the chancellor's partick, spending the spare change in the chancellor's pa rtick, for spending the spare change in the chancellor's partick, for want of a better phrase, we're talking billions of pounds. will be a little bit less than he thought he had the budget next month. thank you. the trial of an army instructor of trying to kill his wife by tampering with her parachute has heard from a expert at the scene of the fall. his wife suffered injuries as she fell over salisbury plain. the court was also showed images for the first time. this is the first time that the parachute at the centre of this case is being seen in public. these images and videos of the parachute was shown to the jury by the prosecution. the parachute was examined by an expert who told the court that he had never seen the lines of a main parachute so tangled. he also looked at the reserve parachute, and noticed that ties were mi
basically, next week the office for budget responsibility, is expected to say we think because of thisl be less than we thought it would be, as a result may be spending the spare change in the chancellor's partick, spending the spare change in the chancellor's pa rtick, for spending the spare change in the chancellor's partick, for want of a better phrase, we're talking billions of pounds. will be a little bit less than he thought he had the budget next month. thank you. the trial of an army...
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Oct 10, 2017
10/17
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it seems that now because of the office for budget responsibility using the wrong figures they will haveigures will be lower still. that means you have low productivity and lower growth and then look at tax receipts and then if you have a lower tax receipts you can pay off your deficit. productivity amongst the british workforce has been a perennial problem. we‘re a long way behind our key competitors. we started to examine this problem about why british workers are so bad at getting productivity growth going. 0ne expedition from the office for budget responsibility seems to suggest that low interest rates, the way we tackle the financial crisis, putting interest rates down, could‘ve been part of the cause for this. by putting interest rates low and also demanding that the banks have high capital requirements, keeping a lot of money back and not lending out, meant to things. 0n of money back and not lending out, meant to things. on one hand it meant to things. on one hand it meant a lot of companies which possibly should have gone under and should have had more of a problem in surviving
it seems that now because of the office for budget responsibility using the wrong figures they will haveigures will be lower still. that means you have low productivity and lower growth and then look at tax receipts and then if you have a lower tax receipts you can pay off your deficit. productivity amongst the british workforce has been a perennial problem. we‘re a long way behind our key competitors. we started to examine this problem about why british workers are so bad at getting...
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Oct 20, 2017
10/17
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the office for budget responsibility has predicted that over the whole financial year the governmentis trend carries on they might have to soften that prediction. there are some interesting trends within the numbers. if you look at the total amount we are borrowing, that adds to the total stock of debts, which is amounts to about 80% of the whole value of the economy. 80% of gdp. then you look at that as a percentage of gdp and it is coming down. in the overspent over the whole financial year, that overspent, have a bit as for capital spending. 0nly overspent, have a bit as for capital spending. only the other half, 16 billion, is the amount by which we arrived spending day to day. that adds to a picture that the debt situation, the borrowing situation is becoming more manageable, not less. the headlines on bbc newsroom live: theresa may says she's optimistic about a good dealfor the uk in the brexit talks. a new study links pollution to the deaths of more than 50,000 people in the uk. former us presidents 0bama and bush hit out at the state of american politics — in an apparently ve
the office for budget responsibility has predicted that over the whole financial year the governmentis trend carries on they might have to soften that prediction. there are some interesting trends within the numbers. if you look at the total amount we are borrowing, that adds to the total stock of debts, which is amounts to about 80% of the whole value of the economy. 80% of gdp. then you look at that as a percentage of gdp and it is coming down. in the overspent over the whole financial year,...
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Oct 25, 2017
10/17
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the issue for the chancellor and his budget in a couple of years is that the office for budget responsibilityht, it looks like we're going to be reducing our forecast for the future. and of course as you said the bank of england will be looking at this and thinking well it's a bit sluggish but it's not too bad and given where inflation is we may well put up interest rates soon. yes. given what you have said about the growth for this quarter and it is just one quarter, do you anticipate as many do that the bank of england is going to put up interest rates. to think that would be the move?” think that given what the governor mark carney has been saying in recent months it would be pretty surprising if there weren't some u pwa rd surprising if there weren't some upward movement in interest rates pretty soon. it would be quite difficult for him to move away from that. and in particular, these figures are, as you say, slightly more positive than expected and that must push the monetary policy commission more towards raising interest rates. but how do ordinary consumers cope with that?” interest ra
the issue for the chancellor and his budget in a couple of years is that the office for budget responsibilityht, it looks like we're going to be reducing our forecast for the future. and of course as you said the bank of england will be looking at this and thinking well it's a bit sluggish but it's not too bad and given where inflation is we may well put up interest rates soon. yes. given what you have said about the growth for this quarter and it is just one quarter, do you anticipate as many...
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Oct 30, 2017
10/17
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if productivity growth based on the current forecast by the office for budget responsibility, if thatalance the books by 2025? one of the scenarios we look at is what would happen if the 0br downgraded halfway between the crossed the expected in march and actual growth in the past seven yea rs. if actual growth in the past seven years. if they move half white that means the deficit in the last year of the parliament would be £20 million higher, despite the relatively good news on tax receipts in recent months. —— 20 billion. that would make it hard for the chancellor to balance the books by the mid 20 20s. while there is a case for further deficit reduction it might be better to now admit a firm commitment to balancing the books by 2025 is not a sensible thing to do. the treasury in response is saying they will continue with a balanced approach. what can that mean in practice because the picture you are setting out does not get the chance of lots of room one way or the other whether the borrowing more. there really is not a lot of room. perhaps the most likely is a relatively modest g
if productivity growth based on the current forecast by the office for budget responsibility, if thatalance the books by 2025? one of the scenarios we look at is what would happen if the 0br downgraded halfway between the crossed the expected in march and actual growth in the past seven yea rs. if actual growth in the past seven years. if they move half white that means the deficit in the last year of the parliament would be £20 million higher, despite the relatively good news on tax receipts...
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Oct 18, 2017
10/17
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officer will be responsible for turning on the device. there are 30 body cameras on the streets of allentown right now. >> pennsylvania's house of representatives is advancing another proposal to help pay for its $2.2 billion budgetrtfall. a bill brought to the house floor narrowly passed last night. it's built around borrowing $1.5 billion and extending the sales tax to online purchases. legislators have been at an impasse on the budget for four months now. >> good thing all the members of the morning team noticed a bit more chilliness as we came in. >> a bit cooler this morning but changing this afternoon for the better. i know some of you out there love the cooler weather but we're going to get milder over the next several days. storm tracker6 live double scan is dry right now. as we take a look outside we have clear skies across cross the region. that includes philadelphia international airport. once again it's a little bit crisp this morning. in allentown we're at 41 degrees currently. same thing in reading and lancaster. 48 degrees in philadelphia. so, these numbers are chilly, maybe a little bit better than they were the last couple of mornings but you still need to dress similarly with that jacket or coat
officer will be responsible for turning on the device. there are 30 body cameras on the streets of allentown right now. >> pennsylvania's house of representatives is advancing another proposal to help pay for its $2.2 billion budgetrtfall. a bill brought to the house floor narrowly passed last night. it's built around borrowing $1.5 billion and extending the sales tax to online purchases. legislators have been at an impasse on the budget for four months now. >> good thing all the...
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Oct 19, 2017
10/17
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for whom they've budgeted. police union officials tell us this is a problem. it's leading to more one-man patrols. it's delaying response times and putting some of the officersthemselves at risk if they're attacked internal police memos show the problems ranges from charles county to d.c. and even raised questions about u.s. park police which lead ples dengs motorcare motorcades. >> you have to recruit them, outfit them and put them on the streets. it all takes money. money we don't have. >> several local police departments say it doesn't impact local safety. some say it does. it stretches the force thin. >> part of our i-team investigation, why police departments in our area are strugtology willing to recruit. the new training they're giving to officers to better protect themselves if on duty alone. scott macfarlane, news 4 i-team. >>> we're used to seeing doug kammerer do crazy things in the weather center and out and about. this is pretty up there. >> doug got a real scare hanging out yesterday. take a look. >> he's trying not to scream. >> grit your teeth, right? he took his chances with the apocalypse roller coaster. >> look at the guy next to him. what
for whom they've budgeted. police union officials tell us this is a problem. it's leading to more one-man patrols. it's delaying response times and putting some of the officersthemselves at risk if they're attacked internal police memos show the problems ranges from charles county to d.c. and even raised questions about u.s. park police which lead ples dengs motorcare motorcades. >> you have to recruit them, outfit them and put them on the streets. it all takes money. money we don't have....
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Oct 13, 2017
10/17
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you are constrained, the office of management and budget rejected your request for $50 million for contingencies that are certain to occur. nevertheless we have a responsibility under the constitution of the united states to ensure the census is funded adequately and for census bureau has resources to conduct a fair and accurate census. this should matter to each and every one of us. why we certainly discuss minority and immigrant populations, low income and rural communities are also at risk of being missed particularly in a digital census. i joined my colleague representative maloney who chairs the conventional census caucus, to fund the bureau at 1.93 $5 billion this year. an amount that reflects budgets from the bureau's fiscal year 2017 budget and an extra $135 million for increases in funds to the seek apps program. we recognize the gravity of the situation we are facing. you have taken this matter very seriously. you said earlier we had a very important meeting with the secretary. that helped lay the foundations of this hearing and i look forward to your testimony, thank you for your indulgence. >> we want to welcome you, mister secretary, pursuant --
you are constrained, the office of management and budget rejected your request for $50 million for contingencies that are certain to occur. nevertheless we have a responsibility under the constitution of the united states to ensure the census is funded adequately and for census bureau has resources to conduct a fair and accurate census. this should matter to each and every one of us. why we certainly discuss minority and immigrant populations, low income and rural communities are also at risk...
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Oct 19, 2017
10/17
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for whom they had actually budgeted. police union officials tell us this is a problem. it's leading to more one-man patrols. it's delaying response time and putting some of the officers themselves at risk if they're attacked on the job. internal police memos we obtained showed the problem ranges from charles county through d.c. and even raised questions about u.s. park police which protect american landmarks and lead presidential motorcades. >> we're looking for people and people cost money. you have to recruit them, you have to train them, you have to outfit them and you have to put them on the street. these things all take money and money we don't have. >> reporter: several police departments said this doesn't have an impact on public safety, but there are others who do, who say this impacts response time of officers and stretches the current force thin. tonight on news 4 as part of our fully team investigation, why police departments in our area are struggling to recruit. what they're doing to solve this problem, and the new training they're giving officers to better protect themselves if on duty alone. scott macfarlane, news 4 i-team. >> up next, the amazon biddi
for whom they had actually budgeted. police union officials tell us this is a problem. it's leading to more one-man patrols. it's delaying response time and putting some of the officers themselves at risk if they're attacked on the job. internal police memos we obtained showed the problem ranges from charles county through d.c. and even raised questions about u.s. park police which protect american landmarks and lead presidential motorcades. >> we're looking for people and people cost...
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Oct 19, 2017
10/17
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for all. mr. mcconnell: mr. president. the presiding officer: the majority leader. mr. mcconnell: the senate is taking the next critical step in passing the comprehensive fiscally responsible budget before us. it's pretty obvious that this is a good budget, and that's true whether you're looking at it from a fiscal per spick alternative or an -- perspective or an economic one. take the fiscal side first. it reins in government spending. it protects social security. it complies fully with the previous spending caps while also providing for an increase for defense resources if a bipartisan agreement can be reached. in short, it's a fiscally responsible budget that will help put the federal government on a path to balance. on the economic side, this budget can help our country realize better and more sustained economic growth, which is critical given the last decade of missed opportunities for the middle class. one way this budget can help our economy is by providing legislative tools to advance tax reform. as i've said many times before, tax reform represents the most important thing we can do today to get our economy reaching for its true potential. tax reform is all about getting
for all. mr. mcconnell: mr. president. the presiding officer: the majority leader. mr. mcconnell: the senate is taking the next critical step in passing the comprehensive fiscally responsible budget before us. it's pretty obvious that this is a good budget, and that's true whether you're looking at it from a fiscal per spick alternative or an -- perspective or an economic one. take the fiscal side first. it reins in government spending. it protects social security. it complies fully with the...
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Oct 23, 2017
10/17
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hear that the office of management and budget rejected your request for an additional $50 million for contingencies that are virtually certain to occur. nevertheless, we have a responsibility under the constitution of the united states to ensure that the census is funded adequately and that the census bureau has the resources it needs to conduct a fair and accurate census. this should matter to each and every one of us, because while we historically discuss minority and immigrant operations being undercounted, low income and rural communities are also at risk of being missed, particularly in a digital census. for this reason, yesterday i joined my colleague, representative carolyn maloney, who also chairs a congressional census caucus, in introducing legislation to fund the bureau at $1.935 billion this year, an amount that reflects budget projections from the bureau's fiscal year 2017 budget and an extra $135 million for increases in the necessary funds for the ccaf program. as i close, we must recognize the gravity of the situation we are facing. and mr. chairman, i thank you while you have taken on this matter very, very seriously. are facing. and mr. chairman, i think.
hear that the office of management and budget rejected your request for an additional $50 million for contingencies that are virtually certain to occur. nevertheless, we have a responsibility under the constitution of the united states to ensure that the census is funded adequately and that the census bureau has the resources it needs to conduct a fair and accurate census. this should matter to each and every one of us, because while we historically discuss minority and immigrant operations...
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Oct 19, 2017
10/17
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responsibility for what happens. mr. president, i yield the floor. the presiding officer: the senator from michigan. mr. peters: mr. president, later today, the majority is going to attempt to pass a budget for 2018. passing a budget has come to mean all sorts of things in congress these days. last year's budget was an attempt to repeal the affordable care act. this budget is supposedly all about tax reform. however, a bug first and foremost should be a statement about priorities for the coming year and for the coming decade. so let's take a moment and examine what this budget says about the majority's priorities. with any budget, i think you need to look at the end result and ask a couple of very simple questions. first, does this budget help reduce federal deficits and debt with a responsible, sensible approach? and second, does this budget ultimately put us on a sustainable fiscal path? the answer to these questions is a clear no. instead, this budget is primarily intended to allow the majority to use an expedited procedure to move tax breaks that would increase the deficit by $1.5 trillion over the next decade. that's a trillion with a t. mr. president, my colleagues on the other sid
responsibility for what happens. mr. president, i yield the floor. the presiding officer: the senator from michigan. mr. peters: mr. president, later today, the majority is going to attempt to pass a budget for 2018. passing a budget has come to mean all sorts of things in congress these days. last year's budget was an attempt to repeal the affordable care act. this budget is supposedly all about tax reform. however, a bug first and foremost should be a statement about priorities for the coming...
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Oct 17, 2017
10/17
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. >> congressional budget office -- >> -- testifying here today, spent a combined total of $30 million lobbying congress last year. pharma, your organization, is responsible for almost three-quarters of that total. a lot of that money that is spent lobbying congress is to keep drug prices high. that's what improves profitability for your industries and the company you represent. here is what i think is really wrong about this. you talk about wanting market solutions but your industry isn't based on competitive markets. it's based on totally artificial taxpayer granted monopolies. companies invent new drugs, and then the government hands the companies the exclusive right to manufacture and sell those drugs at whatever prices they want for decades. so i just have a little bit of time left but i want to ask, do you know the average length of a government granted monopoly for top selling drugs in this country? >> ten to twelve years. >> ten to twelve years. the law says five, five years of exclusivity but drug companies game the system, according to a 2015 analysis by researchers at harvard, companies end up with a monopoly that last as medium length of 12 1/2 ye
. >> congressional budget office -- >> -- testifying here today, spent a combined total of $30 million lobbying congress last year. pharma, your organization, is responsible for almost three-quarters of that total. a lot of that money that is spent lobbying congress is to keep drug prices high. that's what improves profitability for your industries and the company you represent. here is what i think is really wrong about this. you talk about wanting market solutions but your...
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Oct 13, 2017
10/17
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for ways get a lot of the people who are relatively complacent with renting to be homeowners, but we have to do it in the responsible way. rep. luetkemeyer: last month, the congressional budget office released title options to manage to risk,osure guaranteeing single-family mortgages. the purpose was to provide policy options designed to theher -- also improving financial position. i assume your staff has read that report? sec. carson: yes, they have. rep. luetkemeyer: are you aware of it? sec. carson: we have had some discussions. rep. luetkemeyer: other positions that are in there, are you looking at implementing some of those? are you able to talk about some of it yet that you have plans on or are you still reviewing? sec. carson: those are things that obviously, we would be happy to work with you on. i am looking forward to having involved inssioner those discussions, as well. rep. luetkemeyer: have any idea when that individual will be appointed? sec. carson: i am hoping very shortly. it has been quite an ordeal. getting people in place. rep. luetkemeyer: understand. as housing costs continue to grow and rental costs continue to escalate but incomes remain stagnant, the demand
for ways get a lot of the people who are relatively complacent with renting to be homeowners, but we have to do it in the responsible way. rep. luetkemeyer: last month, the congressional budget office released title options to manage to risk,osure guaranteeing single-family mortgages. the purpose was to provide policy options designed to theher -- also improving financial position. i assume your staff has read that report? sec. carson: yes, they have. rep. luetkemeyer: are you aware of it? sec....
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Oct 25, 2017
10/17
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office of budget responsibility, which is they think the underlying rate of productivity growth in the uk economy is not going to bounce back to the levels we saw pre—crisis. that has very big implications forhammond's numbers, he is going to have to present those forecasts on budget day. we are going to see some worse numbers on borrowing and on growth and that's the context. today's number doesn't really change the big picture, which is we face a difficult period of uncertainty for the economy, because of brexit. steady but weakish growth. and some public finances numbers that are still very much not fixed. public finances numbers that are still very much not fixedlj public finances numbers that are still very much not fixed. i wonder how yourformer still very much not fixed. i wonder how your former boss must be feeling, george osborne, because his predictions were wrong, as well. yes, the immediate predictions, i made and many other people made, that the shock of the brexit vote would cause perhaps even a recession in the uk, that clearly has not happened. i think, in the uk, that clearly has not happened. ithink, sadly, the longer term predictions that a lot of economists made that thi
office of budget responsibility, which is they think the underlying rate of productivity growth in the uk economy is not going to bounce back to the levels we saw pre—crisis. that has very big implications forhammond's numbers, he is going to have to present those forecasts on budget day. we are going to see some worse numbers on borrowing and on growth and that's the context. today's number doesn't really change the big picture, which is we face a difficult period of uncertainty for the...
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Oct 10, 2017
10/17
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n the office for budget responsibility, whose economic predictions form the basis of budget decisions of 2017 has seen productivity fall "significantly" and it will also lower its predictions for the next five years. don't forget — you can let us know what you think — tweet us using the hashtag afternoonlive.all the ways to contact us on screen right now. if you have got any questions, tweet me and we will let you know. theresa may has challenged public bodies to "explain or change" sweeping inequalities between different ethnic groups in areas such as education, housing and criminal justice. the government's racial equality audit, published this morning, makes for stark reading. is almost double that of white british adults. 32% of white british pupils on free school meals reached expected standard. but only a third of white british pupils on free school meals reached the expected standard at the end of primary school — worse than any other ethnic group. over 80% felt they "belonged to britain". it also showed that the overwhelming majority of people of all ethnicities felt that they
n the office for budget responsibility, whose economic predictions form the basis of budget decisions of 2017 has seen productivity fall "significantly" and it will also lower its predictions for the next five years. don't forget — you can let us know what you think — tweet us using the hashtag afternoonlive.all the ways to contact us on screen right now. if you have got any questions, tweet me and we will let you know. theresa may has challenged public bodies to "explain or...
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Oct 23, 2017
10/17
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officer: the majority leader. mr. mcconnell: last week, the senate took an important step for the fiscal and economic future of our country with passage of the budget for fiscal year 2018. the comprehensive responsible budget we passed marks our clear vision for the future. it will put the federal government on a path to balance and sets out a new course after the long years of the obama economy. when paycheck stagnated, steady work became harder to find, and retirement for many slipped further away. because the budget we pass isn't just about getting our fiscal house in order, although it's certainly about that. it's also about getting our economy going again and growing again. perhaps the most important way it does so is by authorizing legislative tools to advance tax reform, and passing tax reform is the most important thing we can do today to get our economy reaching for its true potential. tax reform is all about helping the middle-class succeed. it's about making it easier to create jobs in america and keep them right here. if you had to summarize the effort in one phrase, it's this. tax reform is about taking more money out of washington's pocket and putting more in yours. more for workers, m
officer: the majority leader. mr. mcconnell: last week, the senate took an important step for the fiscal and economic future of our country with passage of the budget for fiscal year 2018. the comprehensive responsible budget we passed marks our clear vision for the future. it will put the federal government on a path to balance and sets out a new course after the long years of the obama economy. when paycheck stagnated, steady work became harder to find, and retirement for many slipped further...