The Daily Telegraph

Publish ‘vital’ fiscal forecasts, MPS urge Chancellor

- By Tim Wallace

KWASI KWARTENG is under pressure to publish full economic forecasts alongside Friday’s mini-budget after top MPS said it is “vital” to have independen­t analysis from the Office for Budget Responsibi­lity.

The Chancellor is understood to have received a draft update from the OBR when he took office, but has chosen not to ask for the economic and fiscal outlook that would normally be published with budgets and spring statements.

Mel Stride, chairman of the Treasury select committee, said the scale of tax and spending changes, including a package of energy support estimated to cost £150bn, means it is “very important” to have the OBR’S prediction­s.

“There has been a deteriorat­ion in

‘We are acting swiftly to set out further plans to kickstart economic growth later this week’

our economic outlook since the last OBR forecast in March,” he said. “There have been significan­t fiscal interventi­ons since then and we are told there will be further significan­t interventi­ons including major permanent tax cuts to be announced on Friday. Under these circumstan­ces, it is vital that an independen­t OBR forecast is provided.”

A Treasury spokesman said the Government is acting quickly, and full analysis will follow at a later date. “Given the exceptiona­l circumstan­ces our country faces, we have moved at immense speed to provide significan­t energy bill support for households and businesses, and are acting swiftly to set out further plans to kickstart economic growth later this week,” the spokesman said. “We remain committed to maintainin­g the usual two forecasts in this fiscal year, as is required.”

The OBR has not published any full forecast so far this financial year, suggesting that two will be required in the coming six months.

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