The Treasury develops policy throughout the year, in line with the Chancellor\u2019s priorities and regardless of whether a date for a fiscal event has been announced.<\/p>
The government is required by law to commission the Office for Budget Responsibility (OBR) to produce two forecasts per year and to hold a Budget each fiscal year.<\/p>
The Chancellor has not announced the date of the next fiscal event.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4580", "label" : {"_value" : "Biography information for Baroness Vere of Norbiton"} } , "answeringMemberPrinted" : {"_value" : "Baroness Vere of Norbiton"} , "dateOfAnswer" : {"_value" : "2024-04-08", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2024-04-08T14:17:14.757Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2024-03-27", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Public Finance"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask His Majesty's Government whether any work is underway to prepare for a fiscal event outside of the usual Treasury timetable.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/620", "label" : {"_value" : "Biography information for Lord Browne of Ladyton"} } , "tablingMemberPrinted" : [{"_value" : "Lord Browne of Ladyton"} ], "uin" : "HL3659"} , {"_about" : "http://data.parliament.uk/resources/1690363", "AnsweringBody" : [{"_value" : "Leader of the House"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1690363/answer", "answerText" : {"_value" : "
I refer the Hon. Member to my remarks in response to her point or order on 31st January (Official Report, col. 898), and my responses during business questions on the 18th January (Official Report, col. 1039-40) and the 25th January (Official Report, col. 449).<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4017", "label" : {"_value" : "Biography information for Penny Mordaunt"} } , "answeringMemberConstituency" : {"_value" : "Portsmouth North"} , "answeringMemberPrinted" : {"_value" : "Penny Mordaunt"} , "dateOfAnswer" : {"_value" : "2024-02-23", "_datatype" : "dateTime"} , "groupedQuestionUIN" : {"_value" : "14896"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2024-02-23T09:00:38.467Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "34"} , "answeringDeptShortName" : {"_value" : "Leader of the House"} , "answeringDeptSortName" : {"_value" : "Leader of the House"} , "date" : {"_value" : "2024-02-20", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Public Finance"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Leader of the House, with reference to (a) her oral contribution on 11 January 2024, Official Report, columns 455-456 and (b) figures stated in the Office for Budget Responsibility\u2019s Public finances databank \u2013 December 2023, published on 23 December 2023, on what evidential basis she stated that the Government has managed to have a balanced budget.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4435", "label" : {"_value" : "Biography information for Patricia Gibson"} } , "tablingMemberConstituency" : {"_value" : "North Ayrshire and Arran"} , "tablingMemberPrinted" : [{"_value" : "Patricia Gibson"} ], "uin" : "14897"} , {"_about" : "http://data.parliament.uk/resources/1677577", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1677577/answer", "answerText" : {"_value" : "
Total departmental spending in the next Parliament will continue to grow above inflation. Taken together with the significant increase (3.2% a year on average in real terms) in total departmental spending over the current Parliament, this means that total departmental spending will be £85 billion higher in real terms by 2028-29 than at the start of this Parliament (2019-20).<\/p>
<\/p>
Earlier in the year many were predicting a recession, now the economy is growing in every year of the OBR forecast and the GDP level throughout the forecast is higher than forecast at Spring. The combined impact of Autumn Statement and Spring Budget policies are expected to permanently increase the size of the economy by 0.5% by the end of the forecast.<\/p>
<\/p>
Inflation has been more persistent than the OBR forecast at Spring Budget 2023. The OBR has judged that high energy costs since Putin\u2019s illegal invasion of Ukraine have had a more significant impact on inflation than it previously thought. However, we have met the PM\u2019s priority to halve inflation this year, with inflation falling to 3.9% in November. The OBR says that Autumn Statement policies do not \u2018have a material impact on the path of inflation\u2019, and they slightly reduce inflation in 2024-25.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4580", "label" : {"_value" : "Biography information for Baroness Vere of Norbiton"} } , "answeringMemberPrinted" : {"_value" : "Baroness Vere of Norbiton"} , "dateOfAnswer" : {"_value" : "2023-12-21", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2023-12-21T14:33:41.727Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2023-12-12", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Public Finance"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask His Majesty's Government what is their response to the Institute for Fiscal Studies' assessment that (1) the Autumn Statement has extended the squeeze on public service spending to 2028\u201329, (2) the growth outlook has weakened, and (3) inflation is expected to stay higher for longer.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/2024", "label" : {"_value" : "Biography information for Lord Hunt of Kings Heath"} } , "tablingMemberPrinted" : [{"_value" : "Lord Hunt of Kings Heath"} ], "uin" : "HL1106"} , {"_about" : "http://data.parliament.uk/resources/1627120", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1627120/answer", "answerText" : {"_value" : "
The government took decisive action to restore economic stability in the autumn and get debt falling. At Spring Budget, the OBR confirmed that the government will meet its fiscal rules; underlying debt as a share of GDP is on track to fall in 2027-28 and is lower in every year compared to the OBR\u2019s November forecast.<\/p>
To help ensure value for money in public spending the government launched an Efficiency and Savings Review at Autumn Statement 2022. Through the review, departments reprioritised and identified further efficiencies, building on the 5% efficiency challenge set at Spending Review 2021, to better deliver value for money for the taxpayer.<\/p>
The government will continue to identify further ways to work more efficiently to ensure we can best deliver the outcomes that matter most to the public, even in a challenging economic environment.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4051", "label" : {"_value" : "Biography information for John Glen"} } , "answeringMemberConstituency" : {"_value" : "Salisbury"} , "answeringMemberPrinted" : {"_value" : "John Glen"} , "dateOfAnswer" : {"_value" : "2023-05-18", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2023-05-18T11:02:50.88Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2023-05-11", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Public Finance"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Chancellor of the Exchequer, what steps he is taking to (a) reduce the national debt and (b) ensure value for money in public spending.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/1447", "label" : {"_value" : "Biography information for Andrew Rosindell"} } , "tablingMemberConstituency" : {"_value" : "Romford"} , "tablingMemberPrinted" : [{"_value" : "Andrew Rosindell"} ], "uin" : "184600"} ], "itemsPerPage" : 10, "page" : 0, "startIndex" : 1, "totalResults" : 4, "type" : ["http://purl.org/linked-data/api/vocab#ListEndpoint", "http://purl.org/linked-data/api/vocab#Page"]} }