Category Archive: Economic and fiscal outlook

The public finances have emerged from the pandemic in better shape than expected. But Russia’s invasion of Ukraine will push inflation to a 40-year high of almost 9 per cent, and living standards are set for a historic fall over the next 12 months. The Chancellor used his Spring Statement to deliver rebates and tax…

Richard Hughes distils the key messages from our latest Economic and fiscal outlook in his press conference presentation and accompanying speaking note.

March 2022 All but two policy costings presented to the Office for Budget Responsibility at Spring Statement 2022 were scrutinised and were certified as reasonable, central estimates were included in our forecasts. The Government’s Spring Statement 2022 policy costings document briefly describes the methodologies underpinning these costings. In our March 2022 Economic and fiscal outlook we have…

Our latest Economic and fiscal outlook will be published today alongside the Chancellor’s Spring Statement. It will set out forecasts for the economy and the public finances, and an assessment of whether the Government is likely to achieve its fiscal targets.

We will publish our latest Economic and fiscal outlook (EFO) on Wednesday 23 March, once the Chancellor has completed his Spring 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 October (including the February energy package)….

Since the publication of our October 2021 Economic and fiscal outlook (EFO) we have received a request for further information on the super-deduction costing. We have published this new supplementary forecast information below and on the October 2021 EFO page.

Since the publication of our October 2021 Economic and fiscal outlook (EFO) we have received a request for a further breakdown of the Health and social care levy costing. We have published this new supplementary forecast information below and on the October 2021 EFO page.

Since the publication of our October 2021 Economic and fiscal outlook (EFO) we have received a request for further detail on the impact of policy changes on the number of taxpayers by band. We have published this new supplementary forecast information below and on the October 2021 EFO page.

Richard Hughes distils the key messages from our latest Economic and fiscal outlook in his press conference presentation and accompanying speaking note.

A rebounding economy has provided the Chancellor with a Budget windfall that he has added to with tax rises that lift the tax burden to its highest since the early 1950s. He has used these revenues to fund a large increase in public spending, while reducing the budget deficit to pre-pandemic levels, and meeting his…