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Box sets » Discount rates

  • Economic and fiscal outlook - March 2017 | Box: 3.2 | Page: 43

    The economic effects of policy measures

    In each Economic and fiscal outlook we publish a box that summarises the effects of the Government’s new policy measures on our economy forecast. These include the overall effect of the package of measures and any specific effects of individual measures that we deem to be sufficiently material to have wider indirect effects on the economy. In our March 2017 Economic and Fiscal Outlook, we adjusted our economy forecast for the effects of reducing the ‘personal injury discount rate’.

    Economy categories: Inflation

    Fiscal categories: Departmental spending, Public spending

    Cross-cutting categories: Discount rates, Financial sector

    Read more
  • Economic and fiscal outlook - March 2017 | Box: 4.2 | Page: 96

    The personal injury discount rate

    In February 2017, just ahead of the Spring Budget and our March Economic and fiscal outlook, the Ministry of Justice announced that the ‘personal injury discount rate’ would be reduced from 2.5 to minus 0.75 per cent (in inflation-adjusted real terms). This box explained the direct and indirect effects of this change on our receipts and public spending forecasts.

    Economy categories: Inflation

    Fiscal categories: Debt interest spending, Departmental spending, Insurance premium tax, Public spending, Receipts

    Cross-cutting categories: Discount rates

    Read more
  • Fiscal sustainability report - July 2012 | Box: 2.1 | Page: 42

    ONS’s new statistics on UK pension liabilities

    In April 2012, the Office for National Statistics (ONS) published the first set of new statistics on the total gross liabilities of UK pension providers, including the UK government. This box explored how the ONS’ pension liability estimates were calculated for public service pensions and state pensions, and compared the public service estimate to the Whole of Government Accounts (WGA) methodology.

    Fiscal categories: Public service pension payments, Public spending, State pension, Welfare spending, Whole of Government Accounts and National accounts

    Cross-cutting categories: Data revisions, Discount rates, Experimental statistics, Pensions

    Read more
  • Fiscal sustainability report - July 2011 | Box: 2.1 | Page: 38

    Discount rates

    Discount rates are used to convert future cash flows into an equivalent one-off upfront sum or present value, allowing them to be presented alongside stock measures on a single balance sheet. But there is no single ‘correct’ discount rate and the use of discount rates presents some challenges in analysis of balance sheet movements over time. This box from our first Fiscal sustainability report in 2011 outlined the different discount rates used in the Treasury’s Whole of Government Accounts.

    Fiscal categories: Public service pension payments, Public spending, Whole of Government Accounts and National accounts

    Cross-cutting categories: Discount rates, Pensions

    Read more
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