Business: Investment

Treasury written question – answered on 30th January 2019.

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Photo of Lord Mendelsohn Lord Mendelsohn Labour

To ask Her Majesty's Government, further to the Written Answer by Lord Bates on 26 November 2018 (HL11401), whether in the light of new ONS data showing three consecutive quarter-on-quarter falls in business investment for the first time since 2007–08 they still forecast a 8.8 per cent rise in business investment between Q4 2016 and Q1 2021; and which sectors will account for this rise.

Photo of Lord Bates Lord Bates The Minister of State, Department for International Development

HM Treasury does not publish official forecasts for the UK economy.

The independent Office for Budget Responsibility (OBR) generate a projection for the UK economy that incorporates the impact of any policy announced by the Chancellor of the Exchequer at the annual Budget and Spring Statements.

The most recent forecast was produced at Autumn Budget 2018 in October and the next will coincide with Spring Statement 2019.Until then, there are no further official forecasts.

The OBR’s forecast does not include a detailed breakdown of specific sectors, only an aggregate level of business investment expectations. Therefore, it will not contain details regarding the contribution of specific sectors to future business investment.

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