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The Latest Breaking News from OBR

Pressure on Rachel Reeves as borrowing rises and 'economic growth forecast halved'

PRESSURE is piling on Chancellor Rachel Reeves as UK Government borrowing soared above forecasts last month – and reports say growth forecasts…

The National (Scotland)

‘Does it score?’ How the OBR became the key arbiter of the Treasury’s sums

Chancellor has very little headroom within her fiscal rules but is keen to keep Office for Budget Responsibility on side

The Guardian - UK

Jeremy Hunt hits out at ‘hyperbolic’ Brexit claims of backers like Boris Johnson

Ex-chancellor criticises ‘hyperbolic’ projections as report which claims economic impact of leaving the European Union less than previously thought

The Independent UK

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Keir Starmer to unveil drastic disability benefit cuts despite opposition

Changes could deny benefits to people who need help to wash or to remember to go to the toilet

The Guardian - UK

How much does the UK spend on welfare?

Spending in 2023/24 was equivalent to 10.9% of gross domestic product, or the total value of the economy.

The Independent UK

Former Bank of England deputy warns Rachel Reeves against kneejerk cuts

Charlie Bean says OBR forecasts are ‘flaky’ and cautions against trying to hit targets five years away

The Guardian - UK

Dear Rachel Reeves: if there is no alternative to cuts, at least do them with care

As Labour prepares to wield the axe, it must avoid causing more harm to those on benefits, writes Guardian columnist Polly Toynbee

The Guardian - UK

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Thursday briefing: How Labour’s proposed benefits bill cuts could affect the most vulnerable

In today’s newsletter: The PM has paved the way for the chancellor to overhaul ‘indefensible’ incapacity and disability payments – are there echoes of the Tories’ war on ‘sicknote culture’?

The Guardian - UK

Susanna Reid Wrecks Labour Minister in Fiery Clash—Then Cuts Them Off Live on Air!

Things got heated on Good Morning Britain as Susanna Reid and Ed Balls put a Labour minister through her paces over the possibility of new tax rises.

The Fashion Central

Liz Kendall says getting people into work is best way to cut benefits bill

Chancellor is eyeing welfare system for potential cuts but pensions secretary says more support for jobseekers is key

The Guardian - UK

Chancellor could have to break one annual fiscal event commitment – experts

The Chancellor will deliver a statement on March 26 in response to the latest forecast from the budget watchdog.

Evening Standard

Is Rachel Reeves about to fix Britain’s public finances on the backs of the poorest members of society?

THE INDEPENDENT VIEW: Editorial: As the chancellor prepares to present her plans for social security reforms she must assess whether her cost-cutting measures are unnecessarily punitive, or indeed realistic

The Independent UK

Starmer highlights UK’s war record in implicit rebuke to Vance as Lib Dems mock Badenoch for defending him – as it happened

Interventions follow US vice president’s comments about ‘20,000 troops from some random country that has not fought a war in 40 years’

The Guardian - UK

Chancellor considers welfare cuts in bid to slash spending, reports say

LABOUR are considering several billion pounds in draft spending cuts to welfare and other departments ahead of the Spring Statement, according to…

The National (Scotland)

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The Guardian - UK

Cutting ‘waste’ or more tax: how Reeves could appease OBR in spring statement

A weak economy, higher borrowing costs and increased defence spending will mean tough decisions

Evening Standard

Fact check: Government plans will see defence spending hit 2.5% of GDP

It is unclear what the Prime Minister is using to claim that the increase would be £13.4 billion per year.

The Independent UK

Spring Forecast: When is it and what can we expect?

Rachel Reeves has come under pressure as the government seek to raise growth in the country

The National (Scotland)

'Broken': UK living standards fall despite slight economic growth, data shows

THE UK economy unexpectedly eked out growth in the final three months of last year – but a key measure showed living standards actually fell,…

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Evening Standard

Treasury launches leak inquiry over reports OBR has cut UK growth forecast

The watchdog is reported to have cut its growth forecast for the UK, causing problems for the Chancellor as she attempts to stick to her fiscal rules.

The Independent UK

Government ‘relentlessly focused’ on economy amid reports of lower growth – No10

The Office for Budget Responsibility is said to have cut its projections for economic growth.

The Guardian - UK

US job creation slowed in January; UK can’t say ‘job done’ fighting inflation, say’s BoE’s Pill – as it happened

US economy added 143,000 new jobs last month, fewer than expected

The Guardian - UK

Bank of England poised to cut interest rates amid UK economic gloom

Growth forecasts likely to be downgraded, with rate-setting committee tipped to cut lending rate from 4.75% to 4.5%

The Guardian - UK

Starmer should end UK’s ‘cycle of hesitation’ with EU, says Neil Kinnock

Former Labour leader says government should show greater willingness to work with bloc

The Guardian - UK

Rachel Reeves has to realise she can’t plough on with the farm tax

The chancellor’s attempt to get rich landowners to pay their fair share was correct in principle. But this measure has missed the mark

Evening Standard

Reeves plans to soften non-dom reforms after listening to concerns

Downing Street said the move to soften non-dom reforms does not ‘change the overall approach’ to the Government’s policy.

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