- Chancellor Rachel Reeves announced that her Labour Government has "restored economic stability" and committed to making families "better off".
- She stated that stability is essential for economic growth and pledged to limit major policy changes to a single annual budget for greater certainty.
- New forecasts from the Office for Budget Responsibility confirm that inflation and borrowing are down, while living standards are up and the economy is growing.
- Reeves criticised the previous government for allowing inflation to soar above 11 per cent and interest rates to reach 15-year highs, leading to a decline in living standards.
- The Office for Budget Responsibility has “adjusted the profile of GDP so that it grows slightly slower in 2026 and faster in 2027 and 2028”, growing by 1.1 per cent in 2026, 1.6 per cent in 2027 and 2028, and 1.5 per cent in 2029 and 2030, Chancellor Rachel Reeves has said.
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