Budgets

What did Spring Budget 2023 forecast, and what happened?

Forecast figures appear here once the OBR files are loaded. The HM Treasury documents are linked above.

OBR forecasts not loaded yet.

OBR forecast not loaded yet

Forecast figures appear here once the OBR files are loaded. The HM Treasury documents are linked above. See Data health.

Fiscal rules at this event

Debt falling
Target: Public sector net debt excluding the Bank of England falling as a share of GDP
Target year: Fifth year of the forecast
Outcome: Not assessed. The outcome for Debt falling has not been assessed yet.
Charter for Budget Responsibility, Autumn 2022 update
Borrowing limit
Target: Public sector net borrowing below 3 per cent of GDP
Target year: Fifth year of the forecast
Outcome: Not assessed. The outcome for Borrowing limit has not been assessed yet.
Charter for Budget Responsibility, Autumn 2022 update

Measures not loaded yet

Measures appear once the OBR policy measures database is loaded. See Data health.

How to read these comparisons

Outturn figures are revised by the ONS for years after the event. Each difference uses the ONS release shown in Sources, and is updated when the ONS revises.
Changes to how things are classified, such as the treatment of student loans or the Bank of England's schemes, can move borrowing and debt without any change in policy. These are marked "Basis changed".
Each forecast assumes the policies in place at the time. Later policy changes are one reason outturns differ.
Large shocks, such as the pandemic and the energy price rise, account for many of the biggest differences. A forecast difference is not a broken promise.