Commons Sense

House of Commons · Written Ministerial Statement

Statement from the Chancellor of the Exchequer

16 December 2024 · Treasury

Proposed by Rachel Reeves Lab Leeds West and Pudsey

Economy

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

View on Parliament.uk

At a glance

Key points

  • Chancellor of the Exchequer requests an economic and fiscal forecast from the OBR for publication on March 26, 2025.
  • The OBR will prepare a forecast to meet the statutory requirement under the Budget Responsibility and National Audit Act 2011.
  • The Chancellor will respond with a parliamentary statement after the OBR releases its forecast.

Issue summary

The Chancellor of the Exchequer is requesting an economic and fiscal forecast from the Office for Budget Responsibility (OBR) for publication on March 26, 2025.

Action requested

The OBR will prepare a forecast to meet the statutory requirement under the Budget Responsibility and National Audit Act 2011. The Chancellor will respond with a parliamentary statement following the release of this forecast, aligning with his commitment to deliver one major fiscal event per year.

Key facts

  • The Office for Budget Responsibility (OBR) is required to produce at least two forecasts in a financial year.
  • One forecast was published in October 2024.
  • A second forecast will be published on 26 March 2025.
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