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OBR: Undisclosed spending pressures led to 'materially different' Spring Budget forecasts
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A review published by the UK's independent fiscal watchdog today (30 October) found that if the withheld information had been shared before the Budget, it would have led to a different assessment of 2024-25 departmental spending. The underspend assumption of £2.9bn would «very likely» have been dropped, leading to a «materially higher» spending forecast. However, the OBR noted it is not possible to judge exactly how much higher. Autumn Budget 24: Government to raise taxes by £40bn to plug UK's fiscal hole Had the OBR been fully informed of the pressures during the March forecast p...
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