What is the Office for Budget Responsibility and why has its boss resigned?

The OBR assesses the health of the UK’s economy. It is independent of government but works closely with the Treasury.

Its reports are usually released alongside big government events such as the Spring Statement and the Budget.

Before these announcements, the government gives the OBR details of its plans to raise or lower taxes and how it intends to spend public money.

The OBR checks the information and makes economic forecasts covering the next five years.

These forecasts cover things such as whether the government will spend more money than it raises, and whether the UK’s economy will grow or shrink.

The OBR’s next forecast will be published alongside the Spring Statement in 2026. However, in future the Treasury will only respond to the OBR’s forecasts once a year, at the Budget.