Category Archive: What’s new
Welsh taxes outlook – December 2024
In accordance with the fiscal framework agreed by the Welsh and UK Governments, we are formally commissioned by the Welsh Government to produce independent forecasts for devolved Welsh taxes alongside its Draft Budgets. On 10 December we published our forecasts for devolved Welsh taxes in our 2024 Welsh taxes outlook (WTO). The report is available…
Supplementary forecast information on our long-term fiscal projections
Since the publication of our September 2024 Fiscal risks and sustainability (FRS) report, we have received a request for further detail on our long-term fiscal projections. We have published this new supplementary forecast information below and on the September 2024 FRS page.
Exchange of correspondence between Richard Hughes and Shadow Chancellor Rt. Hon. Jeremy Hunt MP
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.
Forecast evaluation report 2024
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…