List of abbreviations

ACAS

Advisory, Conciliation and Arbitration Service

AME

Annually Managed Expenditure

APD

Air Passenger Duty

APF

Asset Purchase Facility

ASEAN

Association of Southeast Asian Nations

BBA

British Bankers' Association

BIS

Department for Business, Innovation and Skills

CBI

Confederation of British Industry

CCL

Climate change levy

CDEL

Capital Departmental Expenditure Limit

CDFI

Community Development Finance Institution

CGT

Capital gains tax

CGNCR

Central government net cash requirement

CIL

Community Infrastructure Levy

CPI

Consumer Prices Index

DEFRA

Department for Environment, Food and Rural Affairs

DEL

Departmental Expenditure Limit

DMO

Debt Management Office

EIS

Enterprise Investment Scheme

EU

European Union

FPC

Financial Policy Committee

G7

A group of seven major industrial nations (comprising: Canada, France, Germany, Italy, Japan, UK and US).

G20

A group of 20 finance ministers and central bank governors representing 19 countries plus the European Union.

GCSE

General Certificate of Secondary Education

GDP

Gross Domestic Product

GGNB

General government net borrowing

GNI

Gross National Income

GP

General Practitioner

GVA

Gross Value Added

HE

Higher education

HGV

Heavy goods vehicle

HMRC

Her Majesty's Revenue & Customs

HSE

Health and Safety Executive

ICB

Independent Commission on Banking

ICT

Information and communications technology

IFS

Institute for Fiscal Studies

IMF

International Monetary Fund

JSA

Jobseeker's Allowance

JESSICA

Joint Enterprise Support for Sustainable Investment in City Areas

LEP

Local Enterprise Partnership

Mbps

Megabits per second

MPC

Monetary Policy Committee

NEET

Not in education, employment or training

NHS

National Health Service

NMW

National Minimum Wage

OBR

Office for Budget Responsibility

ODA

Official Development Assistance

OECD

Organisation for Economic Cooperation and Development

ONS

Office for National Statistics

ppl

Pence per litre

PRA

Prudential Regulation Authority

PSCE

Public Sector Current Expenditure

PSGI

Public Sector Gross Investment

PSNB

Public sector net borrowing

PSND

Public sector net debt

PSNI

Public Sector Net Investment

RDEL

Resource Departmental Expenditure Limit

RDPE

Rural Development Programme for England

R&D

Research and Development

RPI

Retail Prices Index

SEIS

Seed Enterprise Investment Scheme

SGP

Stability and Growth Pact

SMEs

Small and medium-sized enterprises

SRFI

Strategic Rail Freight Infrastructure

SRFN

Strategic Rail Freight Network

STEM

Science, Technology, Engineering and Mathematics

TIF

Tax increment financing

TME

Total Managed Expenditure

TUPE

Transfer of Undertakings (Protection of Employment)

UKGI

UK Green Investments

UKTI

UK Trade and Investment

VAT

Value Added Tax

VCT

Venture Capital Trust