Author Archives: Kate Hall-Strutt

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Third External Review of the OBR

The Budget Responsibility and National Audit Act 2011 states that the Office for Budget Responsibility’s (OBR’s) non-executive committee must appoint a person or body at least once in every 5-year period to review and report on the Office for Budget Responsibility. The OBR’s non-executive members have commissioned Laura van Geest to lead the third external…

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Monthly profiles for 2024-25

We have published monthly profiles for receipts, spending and borrowing in 2024-25, consistent with our March 2024 Economic and fiscal outlook, below and alongside our monthly commentary on the public finances.

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Supplementary forecast information on fuel duty receipts by vehicle type

Since the publication of our March 2024 Economic and fiscal outlook (EFO) we have received a request for further information on our forecast of fuel duty receipts by vehicle type. We have published this new supplementary forecast information below and on the March 2024 EFO page.

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Two new articles on the economic impacts of Autumn Statement 2023 policies

In our November 2023 Economic and fiscal outlook (EFO), we analysed the economic impacts of the Government’s cuts to NICs and allowing full expensing of some business investments. We have published two papers providing further detail on the modelling behind our analysis below and on the November 2023 EFO page.

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Strong receipts keep borrowing below profile

Borrowing in the first five months of 2023-24 totalled £69.6 billion, £19.3 billion above the same period last year but £11.3 billion below the monthly profile consistent with our March forecast. The downside surprise is more than explained by higher central government receipts (£12.6 billion above profile), reflecting stronger nominal tax bases. This was partly…

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Tom Josephs appointed to the Committee

The Treasury Select Committee has today approved the appointment of Tom Josephs to the Budget Responsibility Committee (BRC), following a hearing before MPs on 5 September. Tom will formally begin his appointment later this month, replacing Andy King who stepped down at the end of August. We thank Andy King for his 10 years of…

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Supplementary forecast information on our long-term fiscal projections

Since the publication of our July 2023 Fiscal risks and sustainability (FRS) report, we have received a request for further detail on our long-term fiscal projections. We have published this new supplementary forecast information below and on the July 2023 FRS page.

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Autumn 2023 forecast date announced

The Chancellor has announced that the Autumn Statement 2023 will take place on Wednesday 22 November. Our latest outlook for the economy and public finances will be released on the same day.

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Tom Josephs nominated to join the OBR

The Chancellor of the Exchequer has nominated Tom Josephs to join the OBR’s Budget Responsibility Committee (BRC). If the nomination is approved by the Treasury Select Committee, Tom will replace Andy King as the fiscal expert on the BRC later this year. Tom Josephs is currently Director of Private Pensions Policy at the Department for…