Budget 2014 Report
When the Government publishes the Budget the Chancellor gives a speech to Parliament in which he sets out the key decisions on tax, borrowing and spending, and his reasons for taking those decisions. This speech is known as
the Budget Statement.
The official forecast on which the Chancellor bases the Government’s Budget is provided by the Office for Budget Responsibility (OBR).
The Budget Responsibility and National Audit Act 2011 require the OBR to publish two economic and fiscal forecasts for each financial year, including one published at the Budget.
The OBR’s duty is to examine and report on the sustainability of the public finances and it is required to do so objectively, transparently and
To read all the latest information on this most important of topics click on the pdf link below.
Published March 2014