Temporary factors push borrowing up in November


November’s public sector net borrowing of £14.2 billion was up on a year earlier, largely reflecting the timing of various spending items and that the boost to receipts from last year’s bank fines was not repeated. We continue to expect year-on-year falls in the deficit to be bigger over the final months of 2015-16.

What else is new

6th January 2016

Robert Chote gave evidence to the Scottish Parliament Finance Committee on the UK Spending Review and the latest OBR forecast on 6 January 2016. His opening remarks set out some background to the forecast and the main elements of interest which have arisen since publication.

25th November 2015

Robert Chote distils the key messages from our latest Economic and fiscal outlook – published today – in his press conference presentation and accompanying speaking note.

25th November 2015

Government eases public spending squeeze and reverses tax credit cuts, but stronger revenues and lower debt interest boost budget balance. Access the full report and supporting material 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.

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