Economic and fiscal outlook – November 2015


Government eases public spending squeeze and reverses tax credit cuts, but stronger revenues and lower debt interest boost budget balance

What else is new

30th October 2015

The Office for National Statistics has announced today that “private registered providers” of social housing in England will be reclassified from the private to the public sector in the National Accounts. This includes most housing associations and some for-profit housing bodies. As a result, the outstanding debt of these bodies will be included in the […]

22nd September 2015

This year’s Forecast evaluation report looks at the latest data for 2014-15 – five years on from our first forecast in June 2010. Lower-than-expected nominal GDP growth explains much of the error in our borrowing forecast from then, but receipts were weaker still. As a result, our borrowing forecast was £60 billion too optimistic, but more recent […]

16th September 2015

The Chancellor nominated Robert Chote to serve a second and final term as Chair of the OBR. The Treasury Select Committee approved the re-appointment on 15 September 2015, saying that they were “satisfied that Robert Chote has the professional competence and personal independence to be reappointed as Chair of the OBR. His work over the last […]

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

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Economic and fiscal outlook
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