"It is the duty of the Office to examine and report on the sustainability of the public finances"
The Treasury Committee has today published its report concluding its inquiry into The OBR: 15 years on. Responding to the report, Jonathan Haskel, Chair of the OBR’s Budget Responsibility Committee, said: “We welcome this report and thank Dame Meg Hillier and the Treasury Committee for their work. We appreciate the Treasury Committee’s support for the…
This morning’s ONS release estimates that borrowing in the first five months of 2026-27 totalled £77.3 billion. This is £2.2 billion below the same period last year and £8.1 billion above the monthly profile consistent with our March forecast. This is driven by £7.4 billion of higher-than-forecast central government spending in the year-to-date, driven by…
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…
Since the publication of our November 2025 Economic and fiscal outlook (EFO) we have received a request for further detail on the costing of government response to the loan charge independent review. We have published this new supplementary forecast information below and on the November 2025 EFO page.
This morning’s ONS release estimates that borrowing in the first four months of 2026-27 totalled £56.7 billion. This is £6.0 billion below the same period last year but £2.3 billion above the monthly profile consistent with our March 2026 forecast. Central government receipts for the year-to-date are £2.8 billion above the forecast profile, primarily driven…
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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…
Professor Jonathan Haskel was nominated as the next Chair of the Office for Budget Responsibility by the Chancellor in June. The House of Commons Treasury Committee has now confirmed his appointment, saying ‘We are satisfied that Professor Haskel has the appropriate professional competence and personal independence to carry out his role‘. Find out more on…
The Chancellor of the Exchequer has today nominated Professor David Miles CBE for reappointment to the Office for Budget Responsibility’s Budget Responsibility Committee (BRC) for a second and final term, subject to the approval of the House of Commons Treasury Committee. As a member of the BRC, Professor David Miles shares executive responsibility for the…
An explainer video exploring the long-term pressures on spending, taxes and government debt—and the choices future governments may face.