Office for Budget Responsibility: Standards

(asked on 6th September 2023) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will make an assessment of the accuracy of forecasts made by the Office for Budget Responsibility since 2018.


Answered by
John Glen Portrait
John Glen
Paymaster General and Minister for the Cabinet Office
This question was answered on 11th September 2023

HMT supports the Office for Budget Responsibility (OBR) as the UK Government’s independent official forecaster. The OBR is required by law to provide an assessment of the accuracy of previous fiscal and economic forecasts at least once each financial year. The most recent OBR Forecast Evaluation Report (FER) was published in January 2023. It examined how the OBR’s March 2021 forecast for 2021-22 compared to subsequent outturn data and identified lessons for future forecasts. The OBR also published a report called “The OBR’s forecast performance” in August 2023 which reviewed its forecast performance since its establishment in 2010.

Reticulating Splines