Section
Author
Page
I
Summary
3
II
UK economic prospects
Michael Nowak
6
II.1 Recent developments and the current situation
6
II.2 Economic growth prospects
11
II.3 Prospects for inflation and interest rates
13
II.4 Sectoral and regional prospects
14
II.5 Longer term prospects
14
II.6 Summary and conclusions
15
Box 2.1: Outlook for UK house prices
John Hawksworth
16
Box 2.2: How large a fiscal tightening will be needed to bring UK public
debt back under control in the long term?
John Hawksworth
18
III Which age groups are being hit hardest by the downturn?
Paul Swinney/John Hawksworth
20
III.1 Income
20
III.2 Wealth
23
III.3 Summary and conclusions
26
Appendices
A Global economic outlook
Jas Ellis
27
B UK economic trends: 1979-2008
32