Abstract
Our new ready reckoner allows users to obtain quick, indicative estimates of how changes in the economy affect public finances.
The OBR ready reckoner is a tool that allows anyone to obtain quick, indicative estimates of the impact that a particular change in one or more economic variables (such as earnings or nominal consumption) would have on key fiscal variables (such as income tax or VAT). It is a simplified spreadsheet model which approximates the outputs of the much wider suite of models used in the preparation of our medium-term fiscal forecasts. However, as these forecasts always combine the, sometimes conflicting, outputs of these models with a wider range of analysis and judgements on key parameters, the ready reckoner cannot precisely predict the outcome of our forecasting process. Nonetheless, we think that publishing it can help to aid public understanding of how changes in the economy affect the public finances.
The OBR ready reckoner is a tool that allows anyone to obtain quick, indicative estimates of the impact that a particular change in one or more economic variables (such as earnings or nominal consumption) would have on key fiscal variables (such as income tax or VAT). It is a simplified spreadsheet model which approximates the outputs of the much wider suite of models used in the preparation of our medium-term fiscal forecasts. However, as these forecasts always combine the, sometimes conflicting, outputs of these models with a wider range of analysis and judgements on key parameters, the ready reckoner cannot precisely predict the outcome of our forecasting process. Nonetheless, we think that publishing it can help to aid public understanding of how changes in the economy affect the public finances.
| Original language | English |
|---|---|
| Type | OBR ready-reckoner |
| Media of output | Online tool |
| Publication status | Published - 12 Oct 2023 |
Keywords
- public finances
- ready reckoner
- estimates