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Budget June 2010
22 June 2010 · Chancellor of the Exchequer: George Osborne
Budget June 2010 was presented on 22 June 2010, when George Osborne was Chancellor of the Exchequer. The OBR published its June 2010 Economic and fiscal outlook the same day. It forecast GDP growth of 1.2% for 2010; the ONS now reports 2.3%, above the forecast. For CPI inflation in 2010 it forecast 3.1%, and the ONS now reports 3.3%. It put public sector net borrowing for 2010-11 at £149.1 billion (10.1% of GDP); the outturn now published is £142.0 billion (8.7% of GDP). Net debt at the end of 2010-11 was forecast at 61.9% of GDP, against 70.6% in the latest outturn.
| Year | OBR forecast, June 2010 | ONS outturn |
|---|
| 2010 | 1.2% | 2.3% |
| 2011 | 2.3% | 0.9% |
| 2012 | 2.8% | 1.5% |
| 2013 | 2.9% | 1.7% |
| 2014 | 2.7% | 3.2% |
| 2015 | 2.7% | 2.1% |
| Year | OBR forecast, June 2010 | ONS outturn |
|---|
| 2010 | 3.1% | 3.3% |
| 2011 | 2.5% | 4.5% |
| 2012 | 1.9% | 2.8% |
| 2013 | 2.0% | 2.6% |
| 2014 | 2.0% | 1.5% |
| 2015 | 2.0% | 0.0% |
| Financial year | OBR forecast, June 2010 | Outturn (OBR databank) | Forecast, per cent of GDP | Outturn, per cent of GDP |
|---|
| 2010-11 | £149.1 billion | £142.0 billion | 10.1% | 8.7% |
| 2011-12 | £116.0 billion | £122.1 billion | 7.5% | 7.3% |
| 2012-13 | £89.0 billion | £123.6 billion | 5.5% | 7.1% |
| 2013-14 | £60.0 billion | £102.4 billion | 3.5% | 5.7% |
| 2014-15 | £37.0 billion | £98.1 billion | 2.1% | 5.2% |
| 2015-16 | £20.0 billion | £80.1 billion | 1.1% | 4.1% |
| Financial year | OBR forecast, June 2010 | Outturn (OBR databank) |
|---|
| 2010-11 | 61.9% | 70.6% |
| 2011-12 | 67.2% | 73.9% |
| 2012-13 | 69.8% | 77.2% |
| 2013-14 | 70.3% | 78.8% |
| 2014-15 | 69.4% | 81.1% |
| 2015-16 | 67.4% | 80.6% |
Other OBR forecasts at Budget June 2010
| Financial year | 2010-11 | 2011-12 | 2012-13 |
|---|
| Public sector current receipts | £547.7 billion | £584.2 billion | £621.9 billion |
| Total managed expenditure | £696.8 billion | £699.8 billion | £711.0 billion |
| Central government gross debt interest | £43.3 billion | £46.5 billion | £52.4 billion |
OBR forecasts as recorded in its historical official forecasts database. Each linked figure's forecast page sets every forecast beside the outturn.
Spending Review 2010 →
Sources
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.