Written question asked by Lord Howard of Lympne (Conservative) on Tuesday, 22 October 2002, in the House of Commons. It was due for an answer on Tuesday, 29 October 2002. It was answered by Lord Boateng (Labour) on Tuesday, 29 October 2002 on behalf of the Treasury.

Treasury

Question: To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 7th November 2001, Official Report, column 256W, and the assumption specified in paragraphs 2.30 and 2.52 of Budget 2002, what further assessment he has made of the start date for the current economic cycle, for the purpose of calculating the cyclically adjusted budget surplus or deficit; and what the calculations are on which that assumption is based. - Inc ref to "Fiscal policy: public finances and the cycle", HM Treasury, March 1999.

Answer: Mr. Howard: To ask the Chancellor of the Exchequer pursuant to the answer of 7 November 2001, Official Report, column 256W, and the assumption specified in paragraphs 2.30 and 2.52 of Budget 2002, what further assessment he has made of the start date for the current economic cycle, for the purpose of calculating the cyclically adjusted budget surplus or deficit; and what the calculations are on which that assumption is based. [77373] Mr. Boateng: The Treasury's methodology for assessing the economic cycle for the purpose of calculating cyclically-adjusted budget surpluses or deficits is set out in publication "Fiscal policy: public finances and the cycle", HM Treasury, March 1999. An updated assessment will be provided in the forthcoming pre-Budget Report.

Secondary information