The pandemic delivered one of the largest peacetime shocks to the UK economy in history last year. And that resulted in the largest forecast errors on record. But, as we document in this year’s Forecast evaluation report, it also provided several important lessons about economic and fiscal forecasting as such a large and novel shock unfolds – lessons that will remain relevant as the pandemic enters its next phase.
"It is the duty of the Office to examine and report on the sustainability of the public finances"