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Office For Budget Responsibility (Obr)- Economic And Fiscal Outlook

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The latest OBR- Economic and Fiscal Outlook worth a read, and not really too technical.

Chart 3.24 Household gross debt to income ratio on page 75. So as the psbr goes to surplus look what happens to the forecast :) It looks like a load of ******** to me. Still do your bit and take on more and more debt!

3.107 With the saving ratio declining over the forecast period and household investment rising strongly, households’ overall net lending position – total income less total spending – moves into deficit. In an accounting sense, this provides the offset to the Government’s fiscal consolidation. The combination of this net lending position and house price growth means that households’ gross debt to income ratio is projected to rise from 2014, and slightly faster than in recent forecasts (Chart 3.24). This is largely because rises in the value of housing assets are typically associated with rises in the value of the debt secured against them. We expect the cost of servicing debt as a share of average household disposable incomes to rise, but to remain well below pre-crisis levels for most of the forecast period, given current market expectations for only a gradual rise in Bank Rate.


I'll keep reading...

Edited by Ash4781

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