Inflation

Treasury written question – answered on 25th November 2021.

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Photo of Jim Shannon Jim Shannon Shadow DUP Spokesperson (Human Rights), Shadow DUP Spokesperson (Health)

To ask the Chancellor of the Exchequer, what assessment he has made of the effect on his policies of the current rate of inflation.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

In its October Economic and Fiscal Outlook (EFO), the independent Office for Budget Responsibility (OBR) set out its assessment of the economic impact of government policies announced at the Budget and Spending Review. The OBR noted that government policies overall had a small effect on inflation, with the price level 0.3% higher at the end of the forecast horizon as a result of Budget and Spending Review measures. The EFO captures the impact of policy measures, specifically referred to in box 2.1 in the October publication.

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