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Autumn Statement 2013

5 December 2013 · Chancellor of the Exchequer: George Osborne

Autumn Statement 2013 was presented on 5 December 2013, when George Osborne was Chancellor of the Exchequer. The OBR published its December 2013 Economic and fiscal outlook the same day. It forecast GDP growth of 1.4% for 2013; the ONS now reports 1.7%, above the forecast. For CPI inflation in 2013 it forecast 2.6%, and the ONS now reports 2.6%. It put public sector net borrowing for 2013-14 at £99.0 billion (6.0% of GDP); the outturn now published is £102.4 billion (5.7% of GDP). Net debt at the end of 2013-14 was forecast at 75.5% of GDP, against 78.8% in the latest outturn. Compared with the previous OBR forecast (Budget 2013), the borrowing forecast for 2014-15 moved from £97.3 billion to £83.9 billion.

GDP growth (real, calendar year)

Year	OBR forecast, December 2013	ONS outturn
2013	1.4%	1.7%
2014	2.4%	3.2%
2015	2.2%	2.1%
2016	2.6%	2.2%
2017	2.7%	3.0%
2018	2.7%	1.6%

CPI inflation (calendar-year average)

Year	OBR forecast, December 2013	ONS outturn
2013	2.6%	2.6%
2014	2.3%	1.5%
2015	2.1%	0.0%
2016	2.0%	0.7%
2017	2.0%	2.7%
2018	2.0%	2.5%

Public sector net borrowing

Financial year	OBR forecast, December 2013	Outturn (OBR databank)	Forecast, per cent of GDP	Outturn, per cent of GDP
2013-14	£99.0 billion	£102.4 billion	6.0%	5.7%
2014-15	£83.9 billion	£98.1 billion	4.9%	5.2%
2015-16	£71.5 billion	£80.1 billion	4.0%	4.1%
2016-17	£47.8 billion	£57.1 billion	2.6%	2.8%
2017-18	£24.8 billion	£61.4 billion	1.3%	2.9%
2018-19	£1.9 billion	£44.1 billion	0.1%	2.0%

Public sector net debt (per cent of GDP)

Financial year	OBR forecast, December 2013	Outturn (OBR databank)
2013-14	75.5%	78.8%
2014-15	78.3%	81.1%
2015-16	80.0%	80.6%
2016-17	79.9%	82.7%
2017-18	78.4%	81.7%
2018-19	75.9%	79.7%

Other OBR forecasts at Autumn Statement 2013

Calendar year	2013	2014	2015
ILO unemployment rate	7.6%	7.1%	7.0%
RPI inflation	3.1%	2.9%	3.3%
Average earnings growth	1.5%	2.6%	3.3%
House price growth	3.2%	5.2%	7.2%
Real household disposable income growth	0.5%	1.1%	1.1%

Financial year	2013-14	2014-15	2015-16
Public sector current receipts	£618.8 billion	£646.6 billion	£672.7 billion
Total managed expenditure	£717.8 billion	£730.5 billion	£744.3 billion
Central government gross debt interest	£49.5 billion	£53.9 billion	£60.0 billion

OBR forecasts as recorded in its historical official forecasts database. Each linked figure's forecast page sets every forecast beside the outturn.

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Sources

HM Treasury (GOV.UK): Autumn Statement 2013: documents read 15 October 2026 · SHA-256 4f32ec0f5828…
OBR: Economic and fiscal outlook - December 2013 read 15 October 2026 · SHA-256 922236b4c39c…
GOV.UK: George Osborne, Chancellor of the Exchequer from 12 May 2010

Forecasts from the OBR's historical official forecasts database; outturns from the ONS and the OBR public finances databank. How the forecasts and outturns are compared, and every data file read.