Chancellor Rachel Reeves has been preparing for the upcoming budget presentation scheduled in less than two weeks. Discussions around the budget suggest potential tax increases, which may impact Labour’s previous manifesto commitments, particularly regarding income tax. One contributing factor to these proposed changes is the anticipated revision of the UK’s productivity growth forecast by the Office for Budget Responsibility (OBR).
Productivity is a significant economic indicator, reflecting how efficiently a country can produce goods and services. The UK’s productivity has been a concern for some time, and there are inquiries about the factors contributing to this issue and potential strategies for improvement.
A panel of experts will discuss these topics, including Chris Giles, an economics commentator for The Financial Times; Helen Miller, director of the Institute for Fiscal Studies; Duncan Weldon, an economist and author; and Greg Thwaites, research director at the Resolution Foundation.
The conversation, hosted by David Aaronovitch, aims to explore the underlying reasons for the UK’s productivity challenges and identify feasible solutions. The analysis could provide insights into the current economic landscape and the implications of possible fiscal policy changes.
For those interested in the detailed discussion, more information is accessible through the programme’s website.
Source: https://www.bbc.co.uk/sounds/play/m002m0ff?at_medium=RSS&at_campaign=rss