Prime Minister Liz Truss was asked about her financial plans during local radio interviews this morning Here's a closer look at some of her claims BBCRealityCheck
- we would have a set of forecasts from the Office for Budget Responsibility . The OBR provides independent analysis to the government.
This would give us an idea of whether an economic slowdown would be prevented by the policies announced.government statement on 23 NovemberAs a result we have to look at other forecasters. The National Institute of Economic and Social ResearchIt no longer expects the economy to shrink in the last three months of this year, but it is still expecting a slowdown and contraction in the first three months of 2023.
Other forecasters also expect the recession to be less severe than it would otherwise have been, but a slowdown is still expected.This claim was also made in Liz Truss's speech to MPs unveiling the energy price guarantee on 8 September.However, we have had analysis from the Bank of England. It said that it was expecting the peak in inflation to be just under 11% as a result of the price cap. The previous month the Bank said inflation would rise to just over 13% - so a cut of about two percentage points.agreed with the prime minister's estimate of a five percentage point reduction in the peak inflation rate.that the energy price guarantee would reduce it by two percentage points.
For example, the money taken from corporation tax rose after 2011 despite George Osborne cutting the headline rate.that was partly because of company profits recovering following the 2008 financial crisis and also because Mr Osborne reduced the amount of tax that companies were allowed to claim back to help fund investment, which made his tax cut less generous.
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