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<p>HM Treasury does not produce forecasts of the economy or public finances.</p><p>
</p><p>The Office for Budget Responsibility (OBR) is responsible for producing forecasts
of the economy and public finances. Their forecasts incorporate their assessment of
the economic and fiscal impact of EU exit.</p><p> </p><p>On 14 April the OBR published
a reference scenario assessing the potential impact of coronavirus. In this scenario
GDP is assumed to fall by 35 per cent in the second quarter of 2020 before recovering
in subsequent quarters. The OBR note that the Government’s policy response should
help limit the long-term damage to the economy and public finances.</p><p> </p><p>The
economic impact of our relationship with the EU is subject to thriving public debate
amongst analysts. The specifics of EU exit depend on the outcome of detailed negotiations.
We will continue to keep Parliament informed with appropriate analysis at appropriate
times in a way that does not impede our ability to strike the best deal for the UK.</p><p>
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