Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what estimate he has made of the potential effect on inflation of the UK leaving the EU without a deal.

Short-term forecasting is undertaken by the Office for Budget Responsibility in line with its statutory duty. In line with its remit, the OBR’s forecasts include the economic and fiscal impact of government policy on EU exit where the effects can be quantified with reasonable accuracy. The OBR has said that it will adjust its Brexit assumptions when more detail is available on the future trade and migration relationship between the UK and EU.