Independent watchdog says it can deliver economic forecast in time for emergency Truss budget

Liz Truss's plans to "fly to the blind" with its urgency Next month's budget has come under pressure after an independent watchdog said it could deliver an economic forecast on time.

The Office for Budget Responsibility ( OBR) confirmed that it had already started work and would be able to publish its results in time.

Ms Truss came under fire from senior members of her own party when it appeared she could circumvent the OBR, which had been set up by her former mentor George Osborne.

She was accused of attempting to 'fly blind' when 'she presented key plans for the economy a few just weeks after entering number 10.

In a letter to Commons Treasury Select Committee MPs, the OBR confirms it will be able to produce a forecas t by mid-September.< /p>Recommended

Confirmation potentially puts the new government in the position of having to formally reject the offer.

Mel Stride, the Tory MP who chairs the committee, said: “These forecasts offer transparency on the health of the country's finances to Parliament, the public and, above all, to international markets, on which the United Kingdom depends largely for its borrowing. It is therefore reassuring to hear that the OBR has already begun this important work and stands ready to provide an in-time forecast for an emergency tax event next month.

"Given the challenges significantly increased since the last forecast in March and the significant measures likely to be presented in September by whoever becomes our next Prime Minister, it will be vital that the OBR be asked by the Chancellor of the new government to publish such a comprehensive forecast as possible at that time."

Reports over the weekend suggested that Ms Truss had downgraded her plans for an emergency budget to a more minor "fiscal event", which would result in the tax cuts she promised in her campaign to become Tory leader, but which would not require a full OBR forecast.

But critics have warned that with the rise in inflation arrow - and which is expected to climb per even higher - his government could risk basing its plans on outdated information.

Shadow Leader S Treasury Secretary Pat McFadden said Ms Truss played economy fantastic and that it was time for her to 'face reality'.

"There is no excuse for our next Tory Prime Minister to try and fend for himself from scrutiny before to announce any cost of living measures in September,” he added.

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