Economic Recession
(asked on 23rd June 2023) - View Source
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent assessment he has made of whether the economy will be in recession in the next 18 months.
This question was answered on 29th June 2023
The Office for Budget Responsibility are the government’s official forecaster, and their most recent forecast shows they do not expect the UK economy to enter recession at any point across the five-year forecast horizon. Additionally, the Treasury’s recent release of the Independent Forecasts for the UK Economy shows no technical recessions expectations for 2023 from 10 out of 11 external forecasters.
The Office for Budget Responsibility are the government’s official forecaster, and their most recent forecast shows they do not expect the UK economy to enter recession at any point across the five-year forecast horizon. Additionally, the Treasury’s recent release of the Independent Forecasts for the UK Economy shows no technical recessions expectations for 2023 from 10 out of 11 external forecasters.