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The OBR also calculated that Britain will continue to pay contributions into the EU budget until 2064 - 45 years after the official date of Brexit - with the total 'withdrawal bill' amounting to PS37.
In its economic and fiscal outlook report published alongside the Spring Statement, the OBR said it had been forced to dramatically cut its forecasts for the sugar levy after firms have altered their drinks formula "sooner and more aggressively than originally assumed".
The OBR still expects the public sector deficit to fall, but probably not fast enough to meet the government's target of a balanced budget by the middle of the next decade.
The question is whether the OBR has spilled too much red ink over the longer-term economic forecasts, as most independent forecasters seem to believe.
So let's look at the facts: austerity that has not been seen since the Victorian era, and the continuing carry-over of the banking crash that in 30 years will have reduced our living standards by 30 per cent, and stamp duty that was wiped out in the very next statement by the OBR.
The relief would also distort the housing market for homes priced at around PS500,000 the OBR has said.
Two tranches of OBR bonds, worth RUB500bn, are expected in October and November.
And the OBR said that if UK universities lose EU grants, the Government may have to step in instead.
The Bank of Russia Board of Directors will take the decisions on specific issues of OBR as a need arises taking into account the transition to a structural liquidity surplus in the banking sector and its following dynamics.
Mr Johnson said the Chancellor was paying the price for having made too much of the PS27bn which the OBR had "found down the back of the sofa" at the time of the Autumn Statement in November, when upward revision forecasts meant he was able to cancel planned cuts to tax credits.
Lower growth, in turn, means bigger deficits for the next few years than previously forecast by the OBR.
As a result of the OBR's forecast Osborne will only be able to borrow around GBP7bn in the remaining two months of the fiscal year in order to meet the forecast by the OBR, the sum for the same two months last year was GBP14.
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