Statement
Today I can inform the House that I have asked the Office for Budget Responsibility (OBR) to prepare an economic and fiscal forecast for publication on 26 March 2025.
This forecast, in addition to the forecast that was published in October 2024, will fulfil the obligation required by the Budget Responsibility and National Audit Act 2011 for the OBR to produce at least two forecasts in a financial year.
I intend to respond to the March forecast with a parliamentary statement. This is in line with my commitment to deliver one major fiscal event a year, to give families and businesses the stability and certainty they need and, in turn, to support the government’s growth mission.
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This statement has also been made in the House of Lords