MNI BRIEF: UK OBR March Timetable Shows Scope For New Measures
MNI (LONDON) - The UK Office for Budget Responsibility has published its timetable for its March 26 economic and fiscal forecasts, with the schedule leaving room for the Treasury to introduce new fiscal measures, if required.
The Treasury's aim has been to return to just one fiscal event a year, with the March projections from the OBR purely forecasts without any new fiscal policy. The timetable shows, however, that there is plenty of room for new measures to be introduced. (see MNI INTERVIEW: UK Could Meet Budget Rules With Legislative Fix )
The first forecast round starts on Feb 4, with the second round on Feb 19 and with five rounds in all, ending March 21. The to and fro of the rounds allows the Treasury to introduce new measures if it wishes. There has been intense interest in whether the public finances are on track or not to meet the balanced budget goal and it may need ways around it the OBR deems it is off track.