"It is the duty of the Office to examine and report on the sustainability of the public finances"
Following Lord Burns’ appointment as Chairman of Ofcom, with effect from 1 January, he will step down as a non-executive member of the Office for Budget Responsibility with effect from 31 December. The process for appointing his successor will commence shortly.
We are pleased to congratulate our former colleagues Mirko Licchetta and Michal Stelmach on being named this year’s winners of the prestigious Rybczynski prize for their essay ‘Health Spending: it’s not just about ageing’. The Rybczynski Prize is awarded annually to the best piece of writing on economics, as judged by the Society of Business…
Since the publication of our November 2017 Economic and fiscal outlook we have received a request for further detail underlying our housing supply forecast. We have published this new supplementary forecast information on the November 2017 EFO page.
We have revised down our productivity and GDP forecasts and, despite lower borrowing this year, revised up our forecast for the budget deficit. The Chancellor has raised the deficit further with higher public spending and a net tax giveaway. Read more in the November 2017 Economic and fiscal outlook.
Robert Chote distils the key messages from our latest Economic and fiscal outlook – published today – in his press conference presentation and accompanying speaking note.
The UK economy has slowed this year as households’ real incomes and spending have been squeezed by higher inflation. GDP growth has been a little weaker than we expected in March, but once again we have been more surprised by the strength of employment growth and the corresponding weakness of productivity growth. The persistence of…
The ONS has reclassified English housing associations to the private sector with effect from today. Our November 2017 forecast will reflect this reclassification.
Since the publication of our March 2017 Economic and fiscal outlook we have received a request for further detail underlying our business rates forecast. We have published this new supplementary forecast information on the March 2017 EFO page.
Robert Chote distils the key messages from our latest Forecast evaluation report – published today – in his press conference presentation and accompanying speaking note.
The OBR is likely to revise down potential productivity growth in its November forecast, weakening the outlook for the public finances. This would be partially offset by lower equilibrium unemployment, more hours worked and downward revisions to borrowing last year.