CII policy briefing: Budget 2012

This policy briefing contains the CII's analysis of the 2012 budget, including the anticipated implications for the insurance industry.

This year's budget comes after a winter of negative news on the UK economy. Since the Office for Budget Responsibility (OBR) downgraded its economic forecasts in November 2011, Moody's and Fitch have since put the UK economy on negative ratings watch. There is now a real possibility that Government spending cuts may not prevent the UK from entering a double dip recession and losing its much coveted triple A status - if growth does not pick up.