Higher receipts continue to reduce deficit


Public sector net borrowing in the first three months of 2015-16 was down £6.1 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 June, public sector net debt is still up on a year earlier.

What else is new

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

11th June 2015

Our fifth Fiscal sustainability report shows that further tax increases or spending cuts are likely to be needed after the current fiscal consolidation to help meet the costs of an ageing population. The full report and accompanying documents can be found on the main FSR page.

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.

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What's coming

Public finances release
Public finances release
Public finances release

More of what's coming