"It is the duty of the Office to examine and report on the sustainability of the public finances"
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.
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…
Ian Blackford, MP and SNP Westminster leader, wrote to Richard Hughes on 23 September expressing the need for an urgent OBR forecast update. Richard Hughes responded on 29 September and we have published the two letters below.
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.
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.
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)….