Economic Policy: Forecasts
The question
To ask the Chancellor of the Exchequer, what assessment she has made of the potential cumulative impact of her Department's (a) economic forecasting and (b) fiscal rules on economic policy.
Answered by Emma Reynolds
The Treasury does not produce economic forecasts. The Office for Budget Responsibility (OBR) is the Government’s independent official economic and fiscal forecaster. The Government uses the forecasts and analysis it produces to inform policy decisions. The OBR will publish its next Economic and Fiscal Outlook on 26 March alongside The Chancellor of the Exchequer’s Spring Statement.
The fiscal rules demonstrate the Government’s commitment to fiscal responsibility and help underpin economic stability. The stability and investment rules put the public finances on a sustainable path and prioritise investment to support long term growth.
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