Category Archive: Economic and fiscal outlook

letter in envelope icon

Exchange of letters between Mel Stride MP and Richard Hughes

In August the Chair of the Treasury Select Committee, Mel Stride MP and Chair Richard Hughes exchanged letters regarding the OBR’s preparations for a potential Emergency Budget. Richard Hughes has now updated Mel Stride on the 23 November forecast timetable.

efo icon

Next steps in the November 2022 forecast

The Chancellor has commissioned the OBR to publish an updated forecast on 23 November alongside the Medium-Term Fiscal Plan. As part of every forecasting process, we provide the Chancellor with a series of interim drafts of our forecasts as an input into policymaking in the run-up to the final, published Economic and fiscal outlook. The Chancellor…

efo icon

November 2022 forecast date announced

We have been commissioned by the Chancellor to produce a forecast for Wednesday 23 November. That day we will release the latest outlook for the economy and public finances.

bar chart in document icon

Supplementary forecast information release

Since the publication of our March 2022 Economic and fiscal outlook (EFO) we have received a request for further information into our forecast of income streams subject to self-assessment income tax. We have published this new supplementary forecast information below and on the March 2022 EFO page.


Spring Statement uses fiscal windfall to cushion historic hit to living standards

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…

Policy costings document March 2022

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…

bar and line chart

March 2022 Economic and fiscal outlook

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.

Economic and fiscal outlook press briefing (image of podium)

Register for the March 2022 Economic and fiscal outlook press briefing

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)….