Borrowing £2.5 billion higher in first three months of 2014-15


Borrowing is slightly higher in the first three months of this year than last. Receipts were front loaded in the first three months of last year, which has resulted in weak growth so far in the current year.

What else is new

23rd July 2014

The Treasury Select Committee announced that “Having considered his oral and written evidence, and taking into account his previous appearances before the Treasury Committee, we are satisfied that Graham Parker has the professional competence and personal independence to be reappointed as a member of the Budget Responsibility Committee. We therefore consent to his appointment. We […]

22nd July 2014

The OBR is commmitted to publishing further information underlying our forecasts and projections. As a result of a recent request for information we have published the estimated effect of fiscal drag on the numbers of taxpayers liable to income tax and National Insurance up to 2033-34.  The release is available in the supplementary documents section of the […]

10th July 2014

The latest in our series of Working Papers were published on 10 July 2014. Working Paper No.5 – Output gap measurement: judgement and uncertainty uses a range of methods to demonstrate the uncertainty of measuring the output gap and considers the appropriate definition in the context of examining the UK public finances.   Working Paper […]

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
Forecast evaluation report

More of what's coming