OBR prepares economic forecast for emergency budget
- On September 2, 2022
- By GrowthInvest Marketing
The Office for Budget Responsibility (OBR) has said it is currently preparing an economic and fiscal outlook at an “exceptionally accelerated timetable” in the event of an emergency Budget next month.
In a letter to the Treasury Select Committee on August 26, the OBR said it had commenced preparatory work for the earlier-than-usual Autumn Budget as the final result of the Tory leadership election edges closer.
Usually, the Autumn Budget is published in late October along with a fiscal report by the OBR.
However, with a new prime minister set to be announced on September 5 which will likely trigger a cabinet reshuffle – including a new chancellor in place of Nadhim Zahawi – the non-departmental public body said it was preparing for an emergency Budget.
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