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Wrong Carl Emmerson?

Mr. Carl Emmerson

Deputy Director

Institute for Fiscal Studies

HQ Phone: +44 20 7291 4800

Email: c***@***.uk

Institute for Fiscal Studies

7 Ridgmount Street

London, London wc1e 7ae

United Kingdom

Find other employees at this company (111)

Background Information



Specialist Advisor
Commons Work and Pensions Select Committee

Web References (200 Total References)

General Election 2015: IFS criticises parties' deficit reduction plans | www.searchaccountant.co.uk

www.searchaccountant.co.uk [cached]

Carl Emmerson, deputy director at the IFS, said:

Estates; gifts | Tax Watch

taxwatch.org.au [cached]

Stuart Adam and Carl Emmerson, Institute for Fiscal Studies (April 2014).

Coming to the crunch: Public Finance | Paul Gosling

www.paulgosling.net [cached]

'The Office for National Statistics will have to make a decision based on international accounting rules,' says the IFS deputy director, Carl Emmerson.

Either way, PSND is heading way over the 40% of national income limit imposed by the Treasury's sustainable investment rule - which Emmerson believes would have been broken next year anyway, when tax receipts fall as the recession bites.

End of the line for the PFI? | Paul Gosling

www.paulgosling.net [cached]

But Carl Emmerson, deputy director at the Institute for Fiscal Studies, explains that the Treasury is now very close to the sustainable investment borrowing ceiling, which would be breached if off-balance sheet schemes were now placed on-balance sheet. Of the total £53.4bn capital values of PFI schemes declared by the Treasury, some £29.1bn (54.5%) is currently off-balance sheet.

The likely approach by Chancellor Alistair Darling will be to raise the 40% borrowing ceiling, suggests Emmerson.
Consequently, predicts Emmerson, Darling will replace the sustainable investment rule with a new rule which has a much higher ceiling and encompasses other long-term debt - particularly liabilities of public sector pensions.
Ideally, says Emmerson, the new accounting rules would have no impact on the future of the PFI. 'What we would like to happen is that all PFI deals are done for economic efficiency reasons, because they are the most economic way or are the best way to deliver, so this would make no difference,' he says. 'In future no-one will be able to make allegations that a deal is done as an accounting trick.'

Institute for Fiscal Studies | Public Finance Press Releases

election2015.ifs.org.uk [cached]

For further information on today's public finance release please contact: Soumaya Keynes or Carl Emmerson on 020 7291 4800, or email soumaya_k@ifs.org.uk or carl_e@ifs.org.uk.

For further information on today's public finance release please contact: Carl Emmerson, Soumaya Keynes or Gemma Tetlow on 020 7291 4800 or email carl_emmerson@ifs.org.uk, soumaya_k@ifs.org.uk or gemma_t@ifs.org.uk.
Commenting on speculation today that government ministers are considering a boost of up to £5 billion to planned capital spending, Carl Emmerson, Deputy Director of the IFS, said: "An extra £5 billion, if spent in one year, would be a large proportional increase in investment spending: Budget 2011 forecast around £30 billion of net investment both this year and next.

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