Budget forecast to be back in balance by 2018-19


We have revised up our short-term growth forecast and revised borrowing down, with the budget back in balance by 2018-19. The improvements are cyclical rather than structural. The Government is on track to meet its fiscal mandate, but not its supplementary debt target.

What else is new

4th April 2014

Kevin Page, former Parliamentary Budget Officer for Canada, has been appointed to lead an external review into the work of the OBR, consistent with the requirements of the legislation underpinning the OBR.    

19th March 2014

The Chancellor has today proposed the re-appointment of Graham Parker as a member of the OBR’s Budget Responsibility Committee (BRC) and confirmed Kate Barker’s re-appointment as a Non-Executive member of the OBR. Read the HM Treasury press release

19th March 2014

The Charter for Budget Responsibility requires that the OBR provides “independent scrutiny and certification of the Government’s policy costings”. Briefing paper No. 6: Policy costings and our forecast describes how we approach the costings process, including the roles of the Treasury and other relevant departments, and how we incorporate the impact of policy measures in […]

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.

...read more

What's coming

Public finance release
Public finance release
Fiscal sustainability report

More of what's coming