Receipts growth continues to reduce deficit


Public sector net borrowing in the first four months of 2015-16 was down £7.3 billion, thanks to higher receipts across all the largest taxes. But with only a small proportion of this year’s expected asset sales having been completed by July, public sector net debt is still up on a year earlier.

What else is new

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 […]

16th July 2015

Our Annual report and accounts for the year ending 31 March 2015 was laid in Parliament on 16 July 2015. The Annual report sets out details of the structure and staffing of the OBR, alongside audited financial accounts.

16th July 2015

The Chancellor of the Exchequer has announced that Lord Burns has been re-appointed as a non-executive member of the OBR. Read the HM Treasury press release here

What we do

The Office for Budget Responsibility:

  • produces forecasts for the economy and public finances,
  • judges progress towards the Government's fiscal targets,
  • assesses the long-term sustainability of the public finances,
  • scrutinises the Treasury's costing of tax and welfare measures. more

What's coming

Public finances release
Public finances release
Public finances release

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