Forecasts used as benchmark to inform government strategy

Cambridge Econometrics (CE) this week confirmed its position as a leading provider of sub-national growth data by supplying the Department for Business, Energy and Industrial Strategy (BEIS) with local authority output, employment and productivity growth forecasts.  This information will support the evidence base behind the government’s Industrial Strategy.

Providing evidence for 30 years

For over 30 years CE has provided economic analysis to help key clients, including local authorities, governments and supranational bodies to develop forecasts in areas such as employment and skills. Such forecasts, based on robust economic data, give policymakers confidence and allow organisations, such as NGOs, to argue for changes in legislation.

CE has a long history of producing bespoke forecasts for a variety of clients. For example, Working Futures provides the most comprehensive quantitative assessment available of UK labour market prospects, using data provided by CE and its partner, the Warwick Institute for Employment Research. Likewise, the British Chambers of Commerce uses CE analysis to inform its quarterly economic forecasts.

The company also develops one-off pieces of work such as for the Northern Powerhouse Independent Economic Review, providing economic analysis for Transport for the North to develop its transport infrastructure plan.

Background

In January, Prime Minister Theresa May unveiled its new draft Industrial Strategy – a plan which includes investment in science, skills and infrastructure across the country. The strategy is currently out for consultation in the form of a Green Paper, until 17 April 2017.

For more information about sub-national growth forecasts and how Cambridge Econometrics can help your organisation, please contact Mike May-Gillings, Associate Director: mmg@camecon.com