Commons Sense

House of Commons · Written Ministerial Statement

Timing of Medium-Term Fiscal Plan

11 October 2022 · Treasury

Proposed by Kwasi Kwarteng Con Spelthorne

Economy

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

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At a glance

Key points

  • Kwasi Kwarteng announces an earlier release date for the Office for Budget Responsibility's forecast for October 31st.
  • The government plans to present the Medium Term Fiscal Plan.
  • The OBR is required to publish at least two forecasts per financial year, including a spring forecast.

Issue summary

Kwasi Kwarteng announces an earlier release date for the Office for Budget Responsibility's forecast and plans to present the government’s Medium Term Fiscal Plan.

Action requested

The Minister requests that the OBR bring forward their next forecast publication to October 31st, in addition to fulfilling their legislative requirement of at least two forecasts per financial year with a spring forecast.

Key facts

  • The Office for Budget Responsibility (OBR) will publish its next forecast on 31 October.
  • Kwasi Kwarteng will present the Medium Term Fiscal Plan alongside the Economic and Fiscal Outlook publication.
  • The OBR is required to produce at least two forecasts in a financial year.
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