Skip to content

Refresh ons.population and re-derive the per-capita series from one vintage #2383

Open

Description

@vahid-ahmadi

gov.economic_assumptions.yoy_growth.ons.population is a March 2025 vintage, while the per-capita series built on it use March 2026 numerators.

Where it comes from

Every value from 2022 to 2073 is the "Population growth" row of the OBR's Long-term economic determinants – March 2025 EFO (published 19 June 2025), brought in by #1305. The fiscal year starting in year t is stored at t-01-01, rounded to four decimals. Footnote 2 of that table: through 2029-30 it is the OBR's March 2025 forecast, and after that the migration category variant of the ONS 2022-based national population projections. The 2021 value (0.004) predates #1305 and has no recorded source.

Why it is stale

  • Calendar-year population growth implied by the March 2026 EFO economy tables (Table 1.1 real GDP over Table 1.5 real GDP per person) is 0.37% for 2025 against 0.72% stored, and 0.30–0.36% a year for 2026–2030 against 0.37–0.45%.
  • The ONS published 2024-based national population projections on 28 April 2026, with lower migration and fertility assumptions than the 2022-based ones.
  • per_capita.gdp and per_capita.mixed_income are March 2026 nominal growth minus this series, so they mix vintages.

Size

Swapping in the March 2026 implied population while keeping the same numerators would raise the per-capita GDP and mixed income factors from 2024 by about 0.35% by 2025, 0.46% by 2027 and 0.73% by 2030. household_weight is uprated by the same series, so in the uprating step aggregates move with nominal growth either way; the vintage mostly shifts the split between amounts per household and the number of households.

To do

  • Decide the target: the March 2026 EFO's population path to 2030-31 and the ONS 2024-based projections after, or the next OBR long-term determinants release if one is published for the March 2026 EFO.
  • Re-derive ons.population and every per_capita.* series from it together, and cite the dated release in each series' metadata.
  • Record the 2021 source, or drop the value if it cannot be found.

Context: #1863, which documents the current provenance in the YAML.

Activity

Sign up for free to join this conversation on GitHub. Already have an account? Sign in to comment

Metadata

Metadata

Assignees

No one assigned

    Labels

    No labels
    No labels

    Type

    No type

    Projects

    No projects

      Milestone

      No milestone

      Relationships

      None yet

      Development

      No branches or pull requests

      Issue actions