Consumers
The question
To ask the Chancellor of the Exchequer, pursuant to the Answer of 3 March 2025 to Question 32505 on Winter Fuel Payment, whether her Department measures the potential impact of its policies on consumer spending.
Answered by Emma Reynolds
HM Treasury does not prepare forecasts for the UK economy. These forecasts, including assessments of the impact of policy decisions on UK household consumption, are the responsibility of the independent Office for Budget Responsibility (OBR).
The OBR does not typically publish estimates of the impact of individual policies on household consumption. Instead, the net effect of the government’s policy package is assessed by the OBR.
HM Treasury considers household consumption and retail sales data published by the Official for National Statistics as part of its ongoing monitoring of the economy. According to the ONS’s First Quarterly estimate, UK household consumption grew by 0.2% in Q1 2025.
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