UK OBR Chairman Richard Hughes on Budget, Pension Reform

UK OBR Chairman Richard Hughes on Budget, Pension Reform

Assessment

Interactive Video

Business, Religious Studies, Other, Social Studies, Life Skills

University

Hard

Created by

Wayground Content

FREE Resource

The video discusses the challenges of economic forecasting in a volatile market, focusing on factors like energy prices, interest rates, and inflation. It examines the UK's budget constraints, particularly the limited fiscal headroom available to the Chancellor. The video evaluates pension and childcare reforms, highlighting their impact on employment. It also addresses the implications of Brexit and the Windsor framework on economic forecasts. Finally, it discusses the role and stability of the Office for Budget Responsibility in the policy-making process.

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7 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the main factors driving economic forecasts in a volatile environment?

Energy prices, interest rates, and inflation

Stock market trends and consumer confidence

Government spending and tax policies

Unemployment rates and trade deficits

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the potential impact of a 1% rise in interest rates on the UK's debt stock?

It would cost £10 billion

It would cost £20 billion

It would cost £30 billion

It would cost £40 billion

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which reform is expected to bring more people back into the workforce at a lower cost per person?

Healthcare reforms

Pension reforms

Childcare reforms

Tax reforms

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How many people are expected to return to the workforce due to the childcare measure?

15,000

60,000

85,000

110,000

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the expected overall increase in employment by the end of the forecast period?

50,000

110,000

150,000

200,000

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the Windsor framework primarily do in relation to the TCA?

It strengthens the TCA

It replaces the TCA

It complicates the TCA

It nullifies the TCA

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the long-term impact of Brexit on trade volumes according to the forecast?

Trade volumes increase by 15%

Trade volumes decrease by 15%

Trade volumes remain unchanged

Trade volumes increase by 4%