Key figures › Budgets › Spending Review and Autumn Statement 2015
Spending Review and Autumn Statement 2015
25 November 2015 · Chancellor of the Exchequer: George Osborne
Spending Review and Autumn Statement 2015 was presented on 25 November 2015, when George Osborne was Chancellor of the Exchequer. The OBR published its November 2015 Economic and fiscal outlook the same day. It forecast GDP growth of 2.4% for 2015; the ONS now reports 2.1%, below the forecast. For CPI inflation in 2015 it forecast 0.1%, and the ONS now reports 0.0%. It put public sector net borrowing for 2015-16 at £73.5 billion (3.9% of GDP); the outturn now published is £80.1 billion (4.1% of GDP). Net debt at the end of 2015-16 was forecast at 82.5% of GDP, against 80.6% in the latest outturn. Compared with the previous OBR forecast (Summer Budget 2015), the borrowing forecast for 2016-17 moved from £43.1 billion to £49.9 billion.
| Year | OBR forecast, November 2015 | ONS outturn |
|---|
| 2015 | 2.4% | 2.1% |
| 2016 | 2.4% | 2.2% |
| 2017 | 2.5% | 3.0% |
| 2018 | 2.4% | 1.6% |
| 2019 | 2.3% | 1.3% |
| 2020 | 2.3% | -10.0% |
| Year | OBR forecast, November 2015 | ONS outturn |
|---|
| 2015 | 0.1% | 0.0% |
| 2016 | 1.0% | 0.7% |
| 2017 | 1.8% | 2.7% |
| 2018 | 1.9% | 2.5% |
| 2019 | 2.0% | 1.8% |
| 2020 | 2.0% | 0.9% |
| Financial year | OBR forecast, November 2015 | Outturn (OBR databank) | Forecast, per cent of GDP | Outturn, per cent of GDP |
|---|
| 2015-16 | £73.5 billion | £80.1 billion | 3.9% | 4.1% |
| 2016-17 | £49.9 billion | £57.1 billion | 2.5% | 2.8% |
| 2017-18 | £24.8 billion | £61.4 billion | 1.2% | 2.9% |
| 2018-19 | £4.6 billion | £44.1 billion | 0.2% | 2.0% |
| 2019-20 | -£10.1 billion | £58.8 billion | -0.5% | 2.6% |
| 2020-21 | -£14.7 billion | £310.8 billion | -0.6% | 14.7% |
| Financial year | OBR forecast, November 2015 | Outturn (OBR databank) |
|---|
| 2015-16 | 82.5% | 80.6% |
| 2016-17 | 81.7% | 82.7% |
| 2017-18 | 79.9% | 81.7% |
| 2018-19 | 77.3% | 79.7% |
| 2019-20 | 74.3% | 84.5% |
| 2020-21 | 71.3% | 95.5% |
Other OBR forecasts at Spending Review and Autumn Statement 2015
| Financial year | 2015-16 | 2016-17 | 2017-18 |
|---|
| Public sector current receipts | £682.2 billion | £723.4 billion | £762.7 billion |
| Total managed expenditure | £755.7 billion | £773.3 billion | £787.5 billion |
| Central government gross debt interest | £46.5 billion | £51.0 billion | £54.2 billion |
OBR forecasts as recorded in its historical official forecasts database. Each linked figure's forecast page sets every forecast beside the outturn.
← Summer Budget 2015 · Budget 2016 →
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.