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The Latest Breaking News from OBR

Government borrowing costs hit highest since 2008 recession as pressure on UK economy increases

The UK is now on track to slightly undershoot the OBR’s full-year borrowing forecast

The Independent UK

Government borrowing sees surprise surge amid fears of squeeze from Iran war

The Office for National Statistics said public sector borrowing stood at £14.3 billion in February – £2.2 billion higher than a year ago.

Evening Standard

The Guardian view on Labour, liberals and the Greens: they agree on the problem, but not the solution

Editorial: From Brexit to fiscal rules to living costs, diagnoses multiply. Steel policy points to a missing link – the need for a strategy to rebuild

The Guardian - UK

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UK inflation warning as soaring oil prices threaten 3% high

IN FULL

The Independent UK

Iran war could drive inflation to 3%, OBR warns in major blow for Reeves

Professor David Miles said the impact of conflict on UK prices could be ‘significant’ and ‘completely unwelcome’

The Independent UK

Energy spike from Iran war could add 1% to UK inflation this year, OBR says

Professor David Miles said the impact of conflict on UK prices could be ‘significant’ and ‘completely unwelcome’.

Evening Standard

UK inflation ‘to be pushed higher’ by energy prices amid Iran conflict

The British Chambers of Commerce said the geopolitical situation could ‘change the economic outlook considerably’.

Evening Standard

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Did baby boomers eat all the pies? John Lanchester on the truth about the generation gap

It’s a grim time to be in your 20s, no doubt, but don’t blame it all on older people: being chopped up into ever smaller rivalries only serves the market

The Guardian - UK

Britain’s economic growth to be weakest in a century outside of pandemic and WWII, think tank warns

The UK’s top two economic think tanks – the Resolution Foundation and the Institute for Fiscal Studies – have issued dire warnings over economic growth and borrowing a day after Rachel Reeves delivered her spring statement

The Independent UK

Tax burden heading to ‘uncharted territory’ with risk to growth, OBR warns

Budget responsibility committee member Professor David Miles said there was ‘clearly a risk’ in the historically high tax burden.

Evening Standard

Wednesday briefing: Was the chancellor’s spring statement already out of date?

In today’s newsletter: Against a backdrop of global turbulence, Rachel Reeve’s surprisingly upbeat tone failed to reassure when our supposed economic stability rests on forces mostly outside of the government’s control

The Guardian - UK

The Guardian view on Rachel Reeves’s spring statement: stability cannot mean sacrificing living standards

Editorial: An energy shock from war in the Gulf will expose the limits of rigid fiscal rules. The real question is who absorbs the loss: the state, firms or households?

The Guardian - UK

What will Rachel Reeves’s spring forecast mean for household finances?

The chancellor promises more money in people’s pockets, but the Iran crisis makes steeper inflation a pressing worry

The Guardian - UK

Unemployment set to hit 5.3% this year amid ‘worrying’ rise in young jobless

OBR raises forecast from 4.9% and downgrades UK’s growth prospects for 2026 – while also warning of war uncertainty

The Guardian - UK

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The Conversation

Conflict in the Middle East makes official economic forecasts immediately out of date

The UK chancellor of the exchequer would not have wanted to deliver her spring statement against the background of a fresh threat to the world economy.

Evening Standard

Stocks retreat as oil surge raises inflation fear

The Middle East crisis overshadowed the Government’s spring statement.

Evening Standard

UK economy could face ‘very significant’ impact from Iran conflict – OBR

The budget watchdog said that the outlook for inflation would be ‘particularly uncertain’.

The Independent UK

One million more pensioners to pay income tax in ‘shock stealth grab’

It’s a direct consequence of frozen tax thresholds, says the Budget watchdog

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The Independent UK

Reeves accused of being ‘tone deaf’ on energy prices as Middle East crisis deepens

Growth forecast cut again and unemployment to rise as chancellor warned economy risks big hit from Iran war – but Reeves insists ‘plan is right’

The Independent UK

Marks & Spencer gives 55,000 workers pay rise but drops real living wage pledge

Shareholder activist group has called on M&S to reinstate its pay in line with the real living wage

The Guardian - UK

Reeves’s talk of stability may be misplaced amid Iran war turmoil

Attempt to project calm in spring forecast may be short-lived if living costs and unemployment keep climbing

Evening Standard

Lower net migration could hold back UK growth potential, OBR finds

The Office for Budget Responsibility said its forecast for net migration was lower than it previously predicted.

Euronews

Spring statement: Iran war casts shadow over fragile UK economic recovery

Chancellor Rachel Reeves sought to strike an upbeat note on Tuesday on the state of the UK economy, even as oil and gas prices surged in the wake of the fast-evolving war with Iran.

The Independent UK

What we learnt from Rachel Reeves’ spring statement – and what it means for you

From energy prices to economic growth, here The Independent takes a look at everything we learnt from the chancellor’s spring statement

Evening Standard

Reeves warns of risk of higher energy bills as Iran war sends oil and gas prices soaring

Gas prices have almost doubled since the start of the attacks on Iran

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