Local authority borrowing revised up
New data suggest that local authority borrowing has been higher so far this year than previously estimated, but the figures remain subject to revision. As a result, total public sector borrowing is now only £4.4 billion lower in the first four months of this year than last year.
What else is new
16th September 2015
The Chancellor nominated Robert Chote to serve a second and final term as Chair of the OBR. The Treasury Select Committee approved the re-appointment on 15 September 2015, saying that they were “satisfied that Robert Chote has the professional competence and personal independence to be reappointed as Chair of the OBR. His work over the last […]
3rd September 2015
A Treasury review has concluded that the OBR is a “respected and successful” organisation five years after its creation. It recommends boosting the OBR’s current capacity and a new publication on fiscal risks, but rejects extending its remit to manifesto costings and distributional analysis. Read the HM Treasury Review of the OBR on GOV.UK The […]
11th August 2015
Our latest economic and fiscal forecast shows how the new Government has used its first Budget to loosen significantly the impending squeeze on public services spending that had been pencilled in by the Coalition in March. This is being financed by welfare cuts, net tax increases and three years of higher government borrowing. The Government has delayed […]
Britain’s fiscal watchdog: a view from the kennel
This speech by Robert Chote describes the role of the OBR and how it compares to the structure of other fiscal councils around the world. It also looks at how the OBR has made a difference to the fiscal forecasting process and improved transparency of the official forecasts for the UK economy and public finances.
What we do
The Office for Budget Responsibility:
Forecast evaluation report
Public finances release
Economic and fiscal outlook