Office for Budget Responsibility forecasts for headroom against fiscal targets, successive fiscal events, June 2010 – March 2025

Source: Institute for Government analysis of Office for Budget Responsibility, Economic and Fiscal Outlook, March 2025. Notes: 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 in 2029-30. November 2016 shows headroom against chancellor's proposed mandate at the time. Projected deficit before policy changes for March 2025 includes the effects of previously announced planning reform and so is shown here as smaller than the £4.1bn used in the OBR's report.Get the dataEmbed Download image
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