Commons Sense

House of Commons · Written Ministerial Statement

Treasury Update

19 December 2022 · Treasury

Proposed by Jeremy Hunt Con Godalming and Ash

Economy

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

View on Parliament.uk

At a glance

Key points

  • The Minister of the Treasury requested an additional forecast from the Office for Budget Responsibility.
  • The forecast is scheduled for March 15, 2023.
  • This action meets the legislative requirement of producing at least two forecasts in a financial year.

Issue summary

The Minister of the Treasury is informing the House about requesting an additional forecast from the Office for Budget Responsibility (OBR) to support the Spring Budget.

Action requested

I have requested that the OBR prepare a forecast for March 15, 2023, in addition to the November 2022 forecast, to meet the legislative requirement of producing at least two forecasts in a financial year.

Key facts

  • The Office for Budget Responsibility (OBR) is required by legislation to produce at least two forecasts in a financial year.
  • One forecast was already prepared in November 2022.
  • A new forecast is requested for March 15, 2023.
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