Borrowing down again in May 2015


Strength in receipts growth continues to push the deficit down compared to last year. Public sector net borrowing in the first two months of 2015-16 was £5.1 billion lower than a year earlier.

What else is new

11th June 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.

11th June 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 […]

22nd May 2015

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 […]

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

Budget and Economic and fiscal outlook
Public finances release
Public finances release

More of what's coming