The OBR chair, Jonathan Haskel, says the OBR's report contains its own estimates of the "gory details" of the cuts to government departments behind the Budget. He was speaking at a Resolution Foundation event, City AM reports.
City AM gives an OBR figure of £11bn but describes it in two different ways. One report calls it cuts to departments factored into the forecast, assuming defence reaches 3% of GDP by 2030 and health spending keeps rising rapidly.
Another City AM report says it is the extra sum the Chancellor would need to find to stop day-to-day spending falling 2.6% in real terms over the final three years of the forecast. Neither wording has been independently checked against the OBR's report.
The IFS director, Helen Miller, said a 'sharp' slowdown in spending around 2030 underpins the borrowing target, against which the headroom is about £15bn. She said she was 'sceptical' that the departmental cuts could be delivered. City AM says they may fall on the Ministry of Justice or the Home Office.
Miller also said she was 'grumpy' at the use of Treasury reserves to fill the hole in the Defence Investment Plan. The IFS says nearly 40% of the reserves for day-to-day spending have now been used, according to City AM.
The Resolution Foundation says the Budget raised departmental budgets by £9bn over the 2025 to 2029 Spending Review period, City AM reports.