What’s new

Economic and fiscal outlook July 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 […]

Annual report and accounts 2014-15

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.

Lord Burns re-appointment

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

Fiscal sustainability report 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.

Welfare trends report 2015

Our second Welfare trends report looks back at how our conclusions from last year’s report informed our most recent forecast for welfare spending. We also draw on international data to compare total spending allocated to social protection in the UK to that in other countries. The full report and accompanying documents can be accessed here Welfare […]

Summer Budget and Economic and fiscal outlook

The Chancellor of the Exchequer has announced that there will be a Summer Budget on Wednesday 8 July 2015. We will publish an updated forecast for the economy and public finances in our Economic and fiscal outlook alongside the statement. Reflecting this change to our usual timetable, we will publish abbreviated editions of our Fiscal sustainability and […]

March 2015 Economic and fiscal outlook

The Government’s policy decisions in Budget 2015 have led us to revise down our deficit forecasts, to expect the debt-to-GDP ratio to fall a year earlier and to revise up public spending as a share of GDP in five years’ time. Our forecast implies the Government is on track to meet its new fiscal mandate […]

The OBR’s expert advisory panel

The Office for Budget Responsibility established an advisory panel of leading economic and fiscal experts in 2011 to help develop and scrutinise its work programme and methods. The panel reflects our determination to ensure that our work is of the highest analytical quality. Since the establishment of the panel we have held annual meetings in […]

December 2014 Economic and fiscal outlook

Despite stronger growth, we revised up our estimate of the budget deficit for this financial year in our latest forecast. But the budget is still forecast to be back in balance by 2018-19. The Government is on track to meet its fiscal mandate and the welfare cap, but not its supplementary debt target. The main Economic […]

Exchange of letters between Lord Burns, Robert Chote and the Permanent Secretary, HM Treasury

Lord Burns, Chair of the OBR’s Oversight Board wrote to Robert Chote and Sir Nicholas Macpherson, Permanent Secretary, HM Treasury asking them to comment on the recommendations made by the first External Review into the OBR.  These letters, and the subsequent replies, are published below.

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