Category Archive: Featured article

Read the executive summary of the July 2023 Fiscal risks and sustainability report

Several of the UK’s tax bases are directly linked to activities that generate greenhouse gas emissions, with others indirectly linked. So as emissions fall as the UK transitions to net zero, receipts generated from these emissions-linked taxes will be affected. In this working paper, we conduct an initial, high-level analysis to explore the proportion of…

The depth and breadth of the economic and fiscal analysis published by the OBR “can be considered as best-practice, and could be used as a benchmark by other advanced countries”, according to the International Monetary Fund’s Fiscal Transparency Evaluation for the UK. “While it is still relatively early in its track record, the OBR’s forecasting…

This speech by Robert Chote describes the role of the OBR and how it compares to the structure of other fiscal councils around the world. It also looks at how the OBR has made a difference to the fiscal forecasting process and improved transparency of the official forecasts for the UK economy and public finances.