"It is the duty of the Office to examine and report on the sustainability of the public finances"
Since the publication of our October 2024 Economic and fiscal outlook (EFO) we have received requests for further information on our carbon price forecast and detail underlying our environmental levies forecast. We will publish this new supplementary forecast information at 11am on 21 November on the October 2024 EFO page.
Richard Hughes distils the key messages from our latest Economic and fiscal outlook in his press conference presentation and accompanying speaking note.
Alongside the October 2024 Economic and fiscal outlook we published our Review of the March 2024 departmental expenditure limits (DEL) forecast. We also wrote to the Chair of the Treasury Select Committee with the findings, recommendations and answers to questions received about the review process.
On 25 October, the Shadow Chancellor, Rt. Hon. Jeremy Hunt MP sent an email to Chair Richard Hughes regarding the March 2024 DEL forecast review. Richard Hughes replied on 27 October. Both are available below.
Our latest Forecast evaluation report examines the performance of our March 2023 forecast and scenarios and draws lessons for future exercises. During 2023-24, GDP growth was close to zero and in line with our forecast. Despite rapid falls in energy prices, inflation was still higher than we forecast due to more substantial pass-through of prior…