Sentences with phrase «sector average forecast»

One wonders why then they do not use their own forecast rather than adjusting the private sector average forecast.

Thereafter, with no change in the «risk adjustment factor», the change in nominal GDP for fiscal planning purpose mirrors the absolute change in the private sector average forecast.

As a result, compared to the March 2012 Budget planning assumption, the level of nominal GDP is $ 9 billion lower in 2012 — this consists of a «risk adjustment factor» of $ 7 billion and the difference between the change in the private sector average forecast of $ 22 billion less the March 2012 Budget «risk adjustment factor» of $ 20 billion.

Originally, the Liberals adjusted the private sector average forecasts (lower real and nominal GDP and increased interest rates).

Not exact matches

For 2013, PBO forecast growth of 2.9 % compared to a private sector average increase of 4.0 %.

However, much more information should have been provided on the forecasts of the private sector economists, not just the «average» forecast.

Table 3 shows the changes in the average private sector economic forecasts for nominal GDP (the most applicable tax base for budgetary revenues), and for short - and long - term interest rates, from the first estimate of the deficit to the final outcome.

As we have argued before (Time to Make the Budget Planning Process More Accountable, Transparent and Prudent — November 2010 www.3dpolicy.ca), we would strongly recommend that you use the Department of Finance's economic forecast rather than average of private sector forecasts, arguing that the Department's economic forecasts provide the most accurate basis for budget forecasting.

Moreover, the reason given for using the average of private sector forecast was not a recommendation of the 1994 Ernst and Young report» Review of the Forecasting Accuracy and Methods of the Department of Finance.

The Update incorporates the October average private sector economic forecasts and an increased «adjustment for risk» for 2011 - 12 to 2013 - 14, as well as an increase in employment insurance rates of only 5 cents (employee rate) for 2012, rather than the 10 cents set in legislation As a result, the balanced budget target is delayed from 2014 - 15 to 2016 - 17, prior to the inclusion of the Targeted Strategic and Operating Review Savings (now called «Deficit Reduction Action Plan Saving Target»).

In addition, PBO's forecast for nominal gross domestic product (GDP)-- the broadest measure of the federal tax base - is considerably lower than the average of the private sector economists» forecasts released by the Minister of Finance on October 29, 2012.

At times, the government has taken this into consideration and adjusted the average private sector economic forecasts, based on the Department of Finance's assessment of future economic developments.

As part of the changes to the budgetary process in 1994, four private sector forecasting organizations [2] develop detailed fiscal projections on a National Accounts basis, based on the average of the private sector economic forecasts and the tax and spending policies in place at the time of the last budget for the next five years.

The Office of the Parliamentary Budget Officer (PBO) also uses the average of the private sector economic forecasts for their fiscal updates.

First, the each of the private sector organizations used their own forecasts of economic growth rather than the average of the private sector economic forecasts.

Budget 2013 continues to use the average of the private sector economic forecasts for budget planning purposes.

These should be compared to the private sector average economic forecasts, with justifications provided for notable differences.

Since 1995, budget planning has been based on the average of the private sector economic forecasts for a few selective major aggregate.

There is no discussion in the budget on the range of the private sector views, so it is impossible to assess the risks inherent in this «average» forecast.

The Government has continued the practice, first adopted by the Liberals in 1996, of using the average of the private sector economic forecasts for budget and fall update planning purposes.

However, given the uncertainties caused by the financial crisis, the Harper Government introduced the «risk adjustment factor» in its October 2010 Update of Economic and Fiscal Projections, whereby the average of the private sector economic forecasts for nominal GDP was adjusted downwards for fiscal planning purposes.

As a result, the average of the private sector economists» forecast for nominal GDP has been adjusted downwards by $ 20 billion per year, identical to what was done in the November 2012 Update.

We have strongly recommended in the past that the Government use the Department of Finance's economic forecast rather than the average of the private sector economic forecasts (see «Time to Make the Budget Planning Process More Accountable, Transparent and Prudent» November 2010: www.3dpolicy.ca).

It did not recommend that the Department use the average of the private sector economists» forecasts.

Instead of using the average of the Department of Finance's survey of private sector economic forecasts, the PBO has developed its own economic forecast to derive its fiscal projections.

We have argued in the past [1] that the Minister of Finance should use the Department of Finance's economic forecast instead of the average private sector forecast.

The average of the private sector forecasts forms the basis for the economic assumptions used for fiscal planning purposes in the budget and fall update.

The Update incorporates the October 29, 2012 average of the private sector economic forecasts.

The federal government continues to use the average private sector economic forecast for budget purposes.

Furthermore, we feel much more detail should be provided on the economic forecasts, including forecasts of the various components of national income and expenditure, and comparison to the private sector average, among others.

In their report, the PBO compares their forecast for nominal GDP to the private sector average.

An average of private sector economic forecasts for a number of selected economic variables was used for budget planning purposes rather than the Department of Finance's economic forecast.

We have consistently argued that the Government should use the Department of Finance's economic projections for budget planning and not the average of the private sector economic forecasts.

The recent private sector «average» forecast should be discarded as a basis for budget planning.

We continue to argue that the Minister of Finance should use the Department of Finance's economic forecast instead of the average private sector forecast.

It adjusted the average private sector forecast for the March 2011 Budget by a similar amount.

The Department's economic forecasts should be compared with the average private sector economic forecasts, with differences fully explained and justified.

The Department of Finance disaggregates the average private sector forecasts for real and nominal GDP into its components — personal income, corporate profits, etc..

As a result, the average of the private sector economists» forecasts for nominal GDP has been adjusted downwards by $ 20 billion per year.

The Department of Finance's detailed economic forecasts should be used to prepare the fiscal forecasts, rather than using the average of private sector forecasts for a selected number of major aggregate.

Instead, the government at that time decided to use the average of private sector economic forecasts rather than those produced by the Department of Finance even though E&Y had concluded that the Department's economic forecasts were consistently better than those in the private sector.

The average of the private sector economic forecasts was a decline of 1.2 per cent.

The 2018 budget forecast is «based on an average of the December 2017 private sector economic outlook survey, and also reflects upside and downside risks, noted above, identified through ongoing engagement with survey participants.»

Currently the fall Update and the Budget economic forecasts are based on the average growth, inflation, interest rates and unemployment rate forecasts of a select group of private sector economic forecasters.

This would not preclude advice from the private sector forecasters, but the budget and fall update economic forecasts would no longer be based on private sector averages.

In the March 2016 Budget, Finance Minister Morneau reduced the private sector economists» forecast of average nominal gross domestic product (GDP) by $ 40 billion per year.

The Department of Finance continues to use the average private sector forecast to generate its baseline fiscal projections.

The public sector made a net repayment of # 7.75 billion, up from # 5.2 billion a year ago and more than the # 6.3 billion average forecast in a Reuters poll.

Last month, the federal government's fiscal and economic update contained average forecasts made in October by a group of private - sector economists.

The bank upgraded its forecast for the real estate sector Thursday, predicting that home prices will gain an average of five to six per cent by the end of 2014.