In addition to the personal debt and spending numbers, the OBR will also reveal its forecasts for development and unemployment. Specified the unparalleled uncertainty, the OBR outlined a few different paths for the overall economy in its Fiscal Sustainability Report in July: an upside, central and downside situation.
With a 2nd lockdown sending the recovery back again into reverse and the Chancellor extending the furlough scheme into following year, the OBR is probably to revise these figures.
Back in July, its central situation predicted that unemployment would peak at 12pc whilst GDP would collapse 12.4pc in 2020. That would be followed by a quick recovery for the overall economy, with development hitting 8.7pc in 2021 and unemployment returning to 5.3pc by 2024. Having said that, in that final result GDP was continue to 3pc reduce by 2025 than it was in its March forecast.
How does the Government’s spending evaluate