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Chancellor uses fiscal windfall to address persistent supply-side challenges

The economic and fiscal outlook has brightened somewhat since November. The near-term downturn is set to be shallower; medium-term output to be higher; and the budget deficit to be lower. But persistent supply-side challenges remain. Against this backdrop, the Chancellor has spent two-thirds of the improvement in the fiscal outlook on his Budget measures, providing…

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Explaining our correction to the January 2023 Monthly profiles

While not a statutory obligation of the OBR, the publication of monthly profiles for the public sector finances consistent with our most recent EFO is something we started doing in May 2020, shortly after presenting our initial Covid reference scenario in the early weeks of the pandemic. Given the extraordinary pressures that the pandemic was…

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Economic and fiscal outlook: user survey results

Over the past 18 months, we have undertaken two separate user surveys to gather feedback on the length, content, and accessibility of our Economic and fiscal outlooks (EFOs). This article reports on the main messages from those surveys and how we plan to respond. December 2021 survey Our first user survey was conducted over December…