viable businesses it will support GDP growth in the near term, reducing the risk of the UK economy entering a deep and damaging recession which could weaken the fiscal position, by leading to elevated borrowing. This package in turn lays the foundations for long-run growth. Lowering inflation in the near term will reduce debt servicing costs, while boosting economic activity which will create an indirect fiscal benefit through higher tax receipts. 1.13 To fund the cost of this package, the Debt Management Office Net Financing Requirement (NFR) in 2022-23 has been revised upwards, from £161.7 billion in April 2022 to £234.1 billion in September 2022. This will be financed by additional gilt sales of £62.4 billion and net Treasury bill sales for debt management purposes of £10.0 billion, relative to April. 1.14 Fiscal policy will contribute to the government’s central economic mission of boosting long-run trend growth. The Growth Plan sets out an ambitious first step towards achieving 2.5% trend growth in GDP, by launching supply-side reforms and cutting taxes for businesses and households (see chapter 3). Faster economic growth will boost living standards and will also help support the sustainability of the public finances, primarily by growing the tax base. 1.15 Maintaining fiscal sustainability in the medium term is essential to provide the confidence and stability to underpin long-run growth. The government is committed to fiscal discipline and will provide an update on its medium-term fiscal plan at the next fiscal event. This will build on three key pillars: • a clear commitment to fiscal responsibility and reducing debt as a proportion of GDP over the medium term • taking the responsible decisions needed to achieve this, including keeping spending under control • maintaining strong institutions and frameworks. 1.16 The Chancellor has commissioned the OBR to produce a forecast to be published by the end of this calendar year. As is usual, the government will provide an update on its position on the fiscal rules alongside the next forecast. 1.17 As part of a disciplined approach to spending, departments will focus on deploying their existing budgets on the government’s top priorities. They will also continue to find ways to work more efficiently and to drive economic growth through their spending. The Chancellor will shortly write to each department asking them to set out how they will prioritise growth within their plans. 1.18 The government will review the spending control framework, including the business case process, to accelerate decision making across government. The Growth Plan 2022 11