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Treasury Update

19 December 2022

Proposing MP
Jeremy Hunt Con
Godalming and Ash
Type
Written Ministerial Statement
Department
Treasury
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At a Glance

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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