Forecast headroom against fiscal rules, November 2010–November 2025

Source: Institute for Government analysis of Office for Budget Responsibility, Economic and Fiscal Outlook, November 2025.Notes: Pink bars indicate fiscal events with Rachel Reeves as chancellor. For comparability with headroom against the current fiscal mandate, past headrooms have been calculated in per cent of GDP as forecast at the time and multiplied by the latest forecast for nominal GDP. November 2016 and March 2020 show headroom against the chancellor's proposed mandate at the time.Get the data Download image
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