The new chancellor may want to get going but the OBR’s timetable could make that difficult
The writer is a former chief of staff to the previous chancellor of the exchequer The speed with which Sir Keir Starmer has made decisions so far suggests that the Labour government isn’t hanging around. A desire to keep this pace up may lead to a late September or October Budget. It is already too late for this to happen earlier than September 18. The Office for Budget Responsibility needs 10 weeks to produce a forecast.
It didn’t change its growth forecasts for any of the housing and planning reforms of the early coalition years. Nor did it downgrade growth when the Conservatives dropped national housebuilding targets. In even worse news, it’s about now that the OBR looks at the long-term growth rate. Unless anything has changed, officials will be warning of the dangers of a downgrade from 1.6 per cent a year.
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