Category Archive: Announcements

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Spring 2023 forecast date announced

The Chancellor has announced that the Spring Budget 2023 will take place on Wednesday 15 March. That day we will release the latest outlook for the economy and public finances.

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Prof David Miles CBE appointed to the Committee

The Treasury Select Committee has today approved the appointment of Prof. David Miles CBE to the Budget Responsibility Committee, following a hearing before MPs on 15 December. David will formally begin his appointment in January, replacing Prof Sir. Charlie Bean who steps down at the end of this year. We thank Prof Sir Charlie Bean…

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Monthly profiles and ready reckoners

On 9 December alongside the Forecast evaluation report, we published monthly profiles for receipts, spending and borrowing in 2021-22 consistent with our October 2021 Economic and fiscal outlook, updated ready reckoners and a working paper on how to improve the representation of uncertainty around our central forecasts.    

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Prof. David Miles CBE nominated to join OBR

The Chancellor of the Exchequer has nominated Prof. David Miles CBE, Imperial College London professor and former Monetary Policy Committee member at the Bank of England, to join the OBR’s Budget Responsibility Committee. If the nomination is approved by the Treasury Select Committee, he would replace Prof. Sir Charlie Bean who finishes his term at…

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Non-executive members review the Budget timetable decision-making process

The independent non-executive directors of the OBR have undertaken a review of the decision-making process around the forecast timetable for the Autumn 2021 Budget to inform the forthcoming review of the Memorandum of Understanding (MoU). The previous MoU review in 2017 was confined to government stakeholders involved in the forecast process. In this case, to…

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Register for the Economic and fiscal outlook press briefing

We will publish our latest Economic and fiscal outlook (EFO) on Wednesday 27 October once the Chancellor has completed his Budget statement in Parliament. The EFO will present our latest forecast for the economy and public finances, which will include all policy measures announced since our previous forecast in March, including in the combined Spending…

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HMT launches search for new Budget Responsibility Committee member

Last week HMT launched the recruitment campaign to find Professor Sir Charlie Bean’s successor as the economic expert on the Budget Responsibility Committee. The Budget Responsibility Committee (BRC) takes collective responsibility for the analysis and judgements that underpin the work of the office and consists of three executive members. Executive members are appointed by the…

New forecasts due on 27 October 2021

Economic and fiscal outlook date announced

The Chancellor of the Exchequer has commissioned the OBR to prepare our next forecast for the economy and public finances for publication on Wednesday 27 October. Read the Chancellor’s letter to the Chair of the Treasury Select Committee.

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Annual report and accounts 2020-21

We have just published our Annual report and accounts 2020-21, which outlines our achievements over the past year and contains an assessment of how we have performed our main duties by our non-executive members. It also contains our accounts for the last financial year and information about how we work.