Economics Weekly by Lloyds TSB

The Office for Budget Responsibility’s (OBR) first report has underscored the need for significant fiscal restraint in this week’s Budget. Structural deficit poses challenge for the Chancellor

The Office for Budget Responsibility’s (OBR) first report has underscored the need for significant fiscal restraint in this week’s Budget. But by how much more does fiscal policy need to be tightened? In this week’s commentary, we assess the implications of the OBR’s forecasts for the state of the UK’s fiscal finances and the UK economy.