The Chancellor and the OBR - Christy Wilson, Katten UK

“The market instability at the moment, including the weak pound and high-interest rates, is in part due to the fact that the Chancellor did not get an OBR report done in relation to the budget.

The sooner the Chancellor obtains the OBR report, the sooner there can be certainty about the budget’s effects.

However, the OBR completing their report is one thing, what the report will say is another thing.

The best case scenario is that the OBR write their report which validates the claims that the PM and Chancellor have made about their economic approach and the report corroborates the tax cuts and increased government borrowing.

But it must be considered that the OBR’s report may not substantiate these claims and this could require the PM and Chancellor to further tweak their economic plans.”

Source: Katten UK