LONDON (Reuters) - British finance minister Rishi Sunak ordered an additional set of economic forecasts to be produced by the country's independent budget forecaster, asking that they be published on March 13 - two days after he delivers his first budget.
"Given the unique circumstances this year, I would like to commission the OBR (Office for Budget Responsibility) to publish a second forecast on the 13 March, to provide a limited update to the 11 March forecast," Sunak said in a letter to OBR Chairman Robert Chote.
The request reflects the fact that the OBR is legally bound to produce two sets of forecasts per financial year and, because a planned budget in 2019 was cancelled due to a general election, has only produced one set in the current period.
Chote had previously written to Sunak giving him three options to resolve the situation - including a so-called 'limited update'.
Chote said a March 13 forecast would include better estimates of the cost of any extra government borrowing announced in the March 11 budget, based on input from the UK Debt Management Office.