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The CEBR said if the global economy continued to falter, then these forecasts were at risk, with exports and business investment both likely to be hit.
There was a noisy reaction from the Commons when he said these forecasts were dependent on the UK remaining in the European Union.
Remarkably, more than half of these forecasts were issued prior to September 1st, with at least one forecast issued in January, before the final two candidates were nominated!
Similarly, the overwhelmingly positive projections from HEFCE are negated by the fact that, in their words, "these forecasts were prepared before the UKBA decision to revoke London Metropolitan University's licence was announced".
The OBR chairman, Robert Chote, noted that these forecasts were liable to change under the next government given the two member parties of the coalition have already said that they would follow different policies if each was to govern alone while Labour has said it will balance the books but the timing will depend largely on the state of the economy.
These forecasts were based on economic growth of 1.5% next year, rising to 2.9% in 2015.
Similar(46)
Second, these forecasts are only what are called probability forecasts.
These forecasts are the foundation on which the commercial products are built.
If these forecasts are right, this is not good news for employment growth.
It is more likely, however, that these forecasts are imprecise and optimistic….
The details of these forecasts are immensely complicated, but the underlying science is pretty simple.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com