October 29, 2019 / 1:00 PM / 24 days ago

UK budget watchdog plans new public finances outlook for November 7

LONDON (Reuters) - Britain’s independent budget watchdog said on Tuesday it planned to publish a new assessment of the public finances on Nov. 7, despite the cancellation of the government’s budget scheduled for that week.

The Office for Budget Responsibility (OBR) cited recent significant changes to the way student loans and pension schemes are accounted for in the public finances, which are likely to result in significant changes to its budget forecasts.

“Given the importance of these changes for public understanding of the baseline against which the government will need to judge its fiscal policy options, we believe that it would be useful to explain publicly the impact that they would have had ..,” OBR Chair Robert Chote said in a letter to the finance ministry.

Reporting by Andy Bruce; editing by Stephen Addison

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