Autumn Budget

• Who is the first female Chancellor of the UK?

  Rachel Reeves
• What challenges did Rachel Reeves face as Chancellor?

  Chronic underinvestment, crumbling public services, and high tax and debt levels
• How has public sector investment changed according to the previous Conservative Government's plans?

  It was planned to fall from 2.6% of national output in 2023-24 to 1.7% in 2028-29
• What did Rachel Reeves propose to address public investment issues?

  Changes to the Government’s fiscal rules to allow for public investment to rise
• What was the effect of loosening the rules governing borrowing for public investment?

  It allowed the Government to lift capital spending by up to £25 billion a year
• What does the Office for Budget Responsibility (OBR) say about the UK economy's growth forecast?

  The growth forecast is similar to that under the previous Conservative government
• What factors are offsetting the positive effects of higher investment according to the OBR?

  Higher employers’ national insurance contributions and potential interest rate increases
• How should the rise in capital spending be viewed according to the analysis?

  As a downpayment on a longer-term vision for the UK economy
• What areas should investment target to have a positive impact on the economy?

  Skills, R&D, innovation, and transport infrastructure
• What are the key components of the economic strategy proposed?

  • Establish an Office for Value for Money
  • Implement a ten-year capital plan
  • Extend five-year Departmental capital plans
  • Require business cases for major projects
• What are the two prongs of Phase Two of the economic plan?

  Reforms to the planning system and recognition of rising demands on the state
• What is the expected outcome of injecting cash into the NHS?

  It may help rebuild social and economic infrastructure
• What strategy is suggested to tackle worklessness?

  Encouraging more people into the workforce
• What is necessary to stabilize the front-line care sector?

  A focus on prevention to reduce demand
• What community strategies are suggested to combat loneliness and promote physical activity?

  • More care for elderly or sick relatives at home
  • Greater use of community groups
  • Revival of the Sure Start programme
  • Housing policy adaptations for caregivers
• Who is Ruth Kelly?

  A Senior Fellow at Policy Exchange and former Labour Secretary of State
• What is the registered charity number for Policy Exchange?

  1096300
• What is the date of the Autumn Budget 2024 Analysis?

  November 8, 2024
• What is the Wolfson Economics Prize year mentioned?

  2021
• What are some of the policy areas mentioned in the study material?

  Crime & Justice, Health and Social Care, Education
• What is the significance of the term "People, Place, Prosperity, & Patriotism" in the context of the study material?

  It is a thematic focus mentioned in the document
• What is the purpose of the Signup section mentioned in the study material?

  To join the mailing list
• What is the purpose of the Privacy Policy mentioned in the study material?

  To inform users about data handling practices
• What type of cookies does the site use to make it work?

  Essential cookies
• Why does the site want to use additional cookies?

  To understand how users use the site and improve services
• When was the Autumn budget 2024 published?

  Tuesday, 05 November, 2024
• Who is the chancellor that announced the budget?

  Rachel Reeves
• What was a significant outcome of the budget announced by Rachel Reeves?

  A significant increase in public spending financed by tax rises and higher borrowing
• What did commentators note about the extra spending on public services?

  It would mean better funded public services
• What did the Office for Budget Responsibility forecast regarding GDP from the budget measures?

  There would be no medium-term boost to GDP
• What was the GDP growth in the first half of 2024 compared to the fourth quarter of 2019?

  1. 9% higher
• How did population growth affect GDP per person during the recovery?

  The recovery in GDP per person was more subdued
• What was the consumer prices index (CPI) increase in the 12 months to September 2024?

  1. 7%
• What was significant about the CPI increase in September 2024?

  It was the lowest year-on-year rate of inflation since April 2021
• What does the Bank of England expect regarding inflation for the rest of the year?

  Inflation is expected to rise somewhat
• What was the official interest rate cut to in August 2024?

  5%
• What did the monetary policy committee decide in September 2024 regarding the bank rate?

  They held the bank rate unchanged at 5%
• How much was government borrowing since the start of the current fiscal year as of September 2024?

  £79.6bn
• What contributed to higher borrowing compared to the OBR’s forecast?

  Higher than expected government spending on goods and services
• What was the estimated public sector net debt as a percentage of GDP at the end of September 2024?

  98.5%