"It is the duty of the Office to examine and report on the sustainability of the public finances"
Pre-announced tax changes encourage house buyers to bring forward purchases, costing Government tax revenue. Download Working paper No.10: Forestalling ahead of property tax changes
Straightforward cuts in the generosity of benefits and tax credits are proving more reliable ways to cut the welfare budget than complex structural reforms to incapacity and disability benefits.
Deficit overshoot against 2010 forecast dominated by £85 billion weaker than expected receipts.
Straightforward cuts in the generosity of benefits and tax credits are proving more reliable ways to cut the welfare budget than complex structural reforms to incapacity and disability benefits. Read more in our latest Welfare trends report.
We’re consulting on the content of our Fiscal risks report, due to be published for the first time next year.
Despite medium-term savings, we estimate reforms to cost the Exchequer £5 billion a year by 2034-35.
We look at some of the detailed considerations that we take into account in our long-term projections in our recent health spending Fiscal sustainability analytical paper.
The Treasury Select Committee has approved the appointment of Sir Charles Bean, former Deputy Governor of the Bank of England and currently Professor of Economics at the London School of Economics, to join the OBR’s Budget Responsibility Committee.
The Chancellor of the Exchequer has nominated Sir Charles Bean, LSE professor and former Deputy Governor of the Bank of England, to join the OBR’s Budget Responsibility Committee. If the nomination is approved by the Treasury Select Committee, he would formally join the OBR at the beginning of 2017 (hence after the Autumn Statement), replacing…
Following the cancellation of our 2016 Fiscal sustainability report we have published three Fiscal sustainability analytical papers today. They cover: the public sector balance sheet; the longer-term effects of student loan policy announcements over the past year; and how changes in mortality rate assumptions in the latest population projections would affect state pensions spending. …