The Office for Budget Responsibility predicts that the spending review will lead to a loss of about 490,000 public sector jobs by 2015.

Even the Office for Budget Responsibility is predicting a contraction of 0.1pc.

At the same time, the Office for Budget Responsibility has published its predictions of what will happen over the next few years.

On the same day the Office for Budget Responsibility will publish its latest forecasts.

Office for Budget Responsibility suggests wine drinkers will pay extra £1.6bn in duty over the next five years.

Those forecasts have been drawn up by the Office for Budget Responsibility.

The Office for Budget Responsibility is also expected to sharply reduce its 2012 growth forecast, from 2.5pc to under 1pc.

The creation of the Office for Budget Responsibility has brought "honesty" back into government forecasting.

The Office for Budget Responsibility: Can we make a difference?

When he sits down the Office for Budget Responsibility will publish its annual forecasts.