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In his March budget Alistair Darling forecast a shortfall for the 2008/09 fiscal year to March of £43bn.
The projections forecast a shortfall in the global supply of many categories of engineers and other technical personnel, in a field already dominated by graduates of universities and technical schools in India and China.
When the government first forecast a shortfall in 2001 of 52.5 trillion rupiah ($4.8 billion, equivalent to 3.7% of GDP), it was expecting its benchmark one-month interest rate to average 11.5%; the rate is now more than four percentage points above that.
The Royal College of GPs has estimated that by 2021 there could be 16,000 fewer GPs than are needed, while the Royal College of Nursing has forecast a shortfall of 47,500 nurses by 2016 and 100,000 by 2022, as more nurses retire or go abroad to work and fewer would-be nurses start training.
Frost and Sullivan has forecast a shortfall of 1.5 million trained security experts by 2020.
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And the Bertelsmann Foundation forecasts a shortfall of about 35,000 primary school teachers by 2025.
In December, it cited revenue shortfalls in its consumer Internet business, MSN, as one reason it was forecasting a shortfall, and today Mr. Connors said that the company's $400 rebate promotion had in effect been too popular.
According to Boston Consulting Group, a typical annual salary for an Indian IT engineer is $5,000 and for a graduate with a masters degree in business $7,500 about one-tenth of their American equivalents.The missing half-millionNASSCOM-McKinsey, however, also forecasts a shortfall, on current trends, of nearly 500,000 capable graduates by 2010, with BPO much worse affected than IT.
Aneurin Bevan LHB forecasts a shortfall of of £48m, Cwm Taf £28.4m, Hywel Dda £12.8m and Powys Teaching LHB £8.1m.
For the current fiscal year, which ends in September, it forecasts a shortfall of $296 billion, or 2.3% of GDP, down from the $423 billion it projected back in February, and from last year's $318 billion deficit, or 2.6% of GDP.
In a recent report, Earth Security forecast a cocoa shortfall of a million tonnes by 2020.
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