In light of the vote to leave the European Union in last week’s referendum – and given the remit set out for us by Parliament in primary and secondary legislation – we have set out the OBR’s role in assessing the potential implications for the economy and public finances. In summary, we stand ready to produce our next medium term forecast in the autumn as requested by the Chancellor and we have cancelled the planned July 2016 publication of our long-term projections based on the March 2016 forecast.

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