"It is the duty of the Office to examine and report on the sustainability of the public finances"
On 31 July 2026 the Chancellor commissioned the OBR to publish our next Economic and fiscal outlook (EFO) on Wednesday 28 October. We have now agreed the final details of the timetable for the forecast process. We will set out details of this timetable in the foreword of the EFO when it is published on 28…
The Chancellor has commissioned the OBR to produce our next forecast on Wednesday 28 October 2026. We will publish an updated Economic and fiscal outlook (EFO) on that day. Updated 10 September: We have now agreed the final details of the timetable for the forecast process. We will set out details of this timetable in the…
We have now published our latest long-term assumptions, consistent with the forecast in our March 2026 Economic and fiscal outlook (EFO), below and on the March 2026 EFO page. These economic determinants that underpin our long-term fiscal projections are used by organisations inside and outside government to inform their own long-term modelling.
Since the publication of our November 2025 Economic and fiscal outlook (EFO) we have received requests for further detail on a range of policy costings, including changes to capital gains tax relief for qualifying disposals to employee ownership trusts, reforms to the non‑domicile regime, the introduction of a high‑value council tax surcharge, changes to the…
Government debt as a share of GDP has nearly tripled over two decades, borrowing has remained around 5 per cent of GDP for the past four years, and borrowing costs are among the highest of advanced economies. Against this challenging backdrop this interim forecast update is little changed from November. GDP growth averages 1½ per…
The Chancellor has commissioned the OBR to produce our next forecast on Tuesday 3 March 2026. We will publish an updated Economic and fiscal outlook on that day.
Richard Hughes has written to the Chancellor of the Exchequer and Chair of the Treasury Select Committee to submit his resignation as Chair of the Office for Budget Responsibility. His letter of resignation is available below.
The OBR inadvertently made it possible to access the November 2025 Economic and fiscal outlook (EFO) too early on Budget day. We launched an immediate investigation into what happened which has reported today, Monday 1 December. The full report is available below.
OBR Chair Richard Hughes has written to both the Chancellor and the Chair of the Commons Treasury Committee apologising for the fact that the OBR inadvertently made it possible to access the November 2025 Economic and fiscal outlook too early on 26 November.
Richard Hughes distils the key messages from our latest Economic and fiscal outlook in his press conference presentation and accompanying speaking note.