The profile for this series is very similar to that shown in the FSBR.
The overall outlook for the public finances is shown in Table 5 which puts together our forecasts for the components of the PSBR and compares them with those shown in the FSBR.
As noted earlier, the spending plans are very close to those set out in the FSBR by assumption.
2) Total taxes and NICs as a share of money GDP, FSBR table 4A.
Table B puts together our forecasts for the components of the PSBR and compares them with those shown in the FSBR.
The main weakness in fixed investment in 1997 and 1998 is likely to be that sponsored by the public sector, where we have adopted the broad profile for investment shown in the FSBR.
The PSBR for the current financial year is forecast to be just over [pounds]25 billion, a slight downward revision on our October forecast and marginally below the FSBR forecast of [pounds]26.
Thereafter, the impact of the fiscal policy changes are likely to dominate, and in the absence of any offsetting changes in tax, the medium-term growth rate we show in Table 12 drops towards 2 1/4 per cent, significantly lower than the central projection in the FSBR.
This is apparent from the projected figures in the 1994 FSBR for general government current expenditure on goods and services.
One notable exception in the UK is the Treasury who publish information about past forecast errors in both the FSBR
and the Autumn Statement.
In part the difference from the previous forecast reflects our decision to incorporate a number of technical assumptions made in the FSBR
regarding accruals adjustments and miscellaneous financial transactions.
This is close to the forecast published by the Treasury in the FSBR