Economic Growth

HM Treasury written question – answered on 12th January 2016.

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Photo of Seema Malhotra Seema Malhotra Shadow Chief Secretary to the Treasury

To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 10 December 2015 to Question 19047, what discussions he has had with the Office for Budget Responsibility on including the potential effect of recent Conservative Party manifesto commitments in its forecasting of economic growth.

Photo of Harriett Baldwin Harriett Baldwin The Economic Secretary to the Treasury

The economy forecast produced by the OBR reflects current Government policy. As laid out in the Budget Responsibility and National Audit Act 2011, ‘Where any Government policies are relevant to the performance of that duty, the Office - must have regard to those policies, but may not consider what the effect of any alternative policies would be.’ The OBR note as risks to the fiscal forecast any significant policy commitments that are not quantifiable.

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