"It is the duty of the Office to examine and report on the sustainability of the public finances"
Several of the UK’s tax bases are directly linked to activities that generate greenhouse gas emissions, with others indirectly linked. So as emissions fall as the UK transitions to net zero, receipts generated from these emissions-linked taxes will be affected. In this working paper, we conduct an initial, high-level analysis to explore the proportion of…
In November 2022, in Briefing Paper No. 8: Forecasting potential output – the supply side of the economy, we described the framework we use when assessing whether and how to incorporate the impact of policy measures on our forecast for potential output (the ‘supply-side’ of the economy). We have applied this framework in our November…
Since the publication of our March 2023 Economic and fiscal outlook (EFO), we have received requests for further information on our CPI inflation categories and wholesale electricity price forecasts. We have published this new supplementary forecast information below and on the March 2023 EFO page.