Commons Sense

House of Commons · Written Ministerial Statement

Treasury Update

27 February 2020 · Treasury

Proposed by Rishi Sunak Con Richmond and Northallerton

Economy

Summarised by AI from the official record, so it can contain mistakes.

View on Parliament.uk

At a glance

Key points

  • The Office for Budget Responsibility will publish a second economic and fiscal forecast on 13 March.
  • The forecast will focus on updated information regarding debt interest.
  • Copies of the forecast will be available in the Vote Office and Printed Paper Office.

Issue summary

The statement addresses the publication of a second economic and fiscal forecast by the Office for Budget Responsibility (OBR) to fulfill their legal duties under the Budget Responsibility and National Audit Act 2011.

Action requested

I have commissioned the OBR to publish a second forecast on 13 March, focusing on updated information on debt interest. The forecast will be laid in Parliament and copies will be available in the Vote Office and Printed Paper Office.

Key facts

  • The OBR must produce two economic and fiscal forecasts each financial year under the Budget Responsibility and National Audit Act 2011.
  • A forecast was originally planned alongside the Autumn Budget but was cancelled due to the General Election.
  • The second forecast will be published on 13 March.
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