Hunt Given Good News on UK Budget Forecasts by Fiscal Watchdog
- Forecasts to include lower rate path, better news on tax, jobs
- Headroom for tax cuts could be higher than seen in November
Jeremy Hunt
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UK Chancellor Jeremy Hunt received a pre-budget boost after his fiscal watchdog disclosed it was preparing forecasts using data that will potentially improve the public finances and create more room for tax cuts.
The Office for Budget Responsibility said its forecasts will use average market-implied interest rates in the 10 working days to Jan 23, a window that will flatter the numbers as investors have since scaled back expectations of rate cuts.