"It is the duty of the Office to examine and report on the sustainability of the public finances"
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…
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.
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.
Every two years since 2017 the Office for Budget Responsibility produces a report on the fiscal risks facing the UK. We will publish our latest Fiscal risks report (FRR) on Tuesday 6 July. As previously announced, alongside providing updates on significant developments regarding specific risks highlighted in our previous reports, the 2021 FRR will focus…
Since the publication of our March 2021 Economic and fiscal outlook we have received a request for further detail on our betting and gaming duties forecast. We have published this new supplementary forecast information below and on the March 2021 EFO page. We have also published updated monthly profiles below and on our monthly commentary…
The Chancellor of the Exchequer has announced that Bronwyn Curtis OBE has been re-appointed as a non-executive member of the OBR and Audit sub-Committee chair. Bronwyn Curtis said: “I am delighted to be re-appointed to the Oversight Board of the Office for Budget Responsibility. As we emerge from the pandemic, the role of the OBR…
We will publish our latest set of forecasts for the economy and public finances alongside the Chancellor’s Budget on Wednesday 3 March. The Economic and fiscal outlook will be published here immediately after the Chancellor’s speech.
Government borrowing continued to rise in January, with monthly borrowing of £8.8 billion, despite a better-than-expected £24 billion of tax payments being made through self-assessment. Year-to-date borrowing has reached £271 billion, far exceeding the pre-virus annual record set at the height of the financial crisis in 2009-10 (£158 billion). We will publish our latest estimate…
The pace of government borrowing picked up further in December to reach £34.1 billion, the highest monthly total since May. Year-to-date borrowing now stands at £270.8 billion, far exceeding the pre-virus annual record set at the peak of the financial crisis (£158 billion). The reimposition of a national lockdown in early January means prospects for the…
Our annual Forecast evaluation report (FER), examines how our forecasts compare to subsequent outturn data and identifies lessons for future forecasts. This time we have streamlined the FER to focus on how our March 2018 and March 2019 economy and fiscal forecasts for 2019-20 fared against the outturns. The report will be published here on…