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The Latest Breaking News from OBR

ECB raises interest rates more than expected to combat inflation – as it happened

ECB raises rates by half a point in its first hike in 11 years, UK government finances worsen amid record debt interest costs and Russia resumes limited gas supplies to Europe

The Guardian - UK

DWP's first £326 cost-of-living payment to hit millions of UK bank accounts from this week

People may be entitled to receive £650 in two lump sums if they receive certain support

Wales Online

Cost-of-living payments will hit bank accounts from Thursday

People may be entitled to receive £650 in two lump sums if they receive certain support.

The Independent UK

From analysis to the latest developments in health,
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What could be the impacts of possible tax cuts?

Conservative leadership contenders have made various promises around tax cuts.

The Independent UK

The Guardian view on Tory supply-siders: unhelpful in a cost of living crisis

Editorial: Imaginative public spending is unlikely to feature in the Conservative leadership race, where tax cuts will be a key dividing line

The Guardian - UK

UK’s ‘unsustainable’ debt could reach 320% of GDP in 50 years, OBR warns

Taxes ‘must be raised to offset mounting cost of ageing population and falling fuel income’

The Guardian - UK

Sunak forced to borrow yet more as inflation soars and growth falters

Debt interest payments have surged by 70% compared with last year for the Chancellor

Evening Standard

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Interest payments on government borrowing soar to May record as inflation rises

The ONS said surging levels of inflation sent interest payments on government debt to a May record of £7.6 billion.

The Independent UK

UK economy ‘running on empty’ as high inflation threatens recession, and drives up borrowing costs – as it happened

UK business confidence falls to levels that signal a recession, as new orders growth weakens

The Guardian - UK

UK’s tax burden: What do the figures show?

The burden is set to rise to its highest level since 1949/50.

The Independent UK

Labour urges spending watchdog to assess impact of chancellor’s £21bn package

Shadow Treasury secretary asks Office for Budget Responsibility to examine Rishi Sunak’s emergency cost of living measures

The Guardian - UK

Sunak faces calls for help with living costs as budget deficit lower than forecast

Tax receipts are weaker than expected, revealing impact of UK’s slowing economy

The Guardian - UK

‘I can’t see it getting any better’: could the UK be heading for a recession?

Small business owners are already being hit as consumers cut back on non-essentials

The Guardian - UK

The key to winning the climate debate isn’t economics: it’s health

The environment ranks low in polls of the public’s fears, while sickness ranks top. Yet we will all get more ill as the planet heats

The Guardian - UK

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The Independent UK

As inflation soars to another 30-year high, what can we expect next?

Inflation does not yet take into account the 54% jump to the energy price cap that came into effect on April 1.

The Guardian - UK

Sunak pours scorn on the OBR’s dire warnings – but the facts speak for themselves

The chancellor would prefer forecasts to be more upbeat, but the economic outlook is unremittingly bleak

Wales Online

National Minimum Wage: How much extra you will get when wages increase on April 1

Wages are rising from today amid soaring living costs

The Independent UK

Cost-of-living support not targeting benefits claimants, OBR warns Chancellor

The Office for Budget Responsibility told MPs that Rishi Sunak’s support mainly helped those in work instead.

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news in one place.

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Evening Standard

More than a million households could miss out on £150 energy rebate

Financial experts have warned that more than 1 million households are set to miss out on Rishi Sunak’s £150 energy bill rebate.

Daily Mirror

Tories branded 'party of high taxes' amid warnings households will see £3k tax hike

Labour’s analysis of the OBR figures found that on average, households will still be hit by the Chancellor’s tax rises of £3,000 by 2026/27 – even with the cut in income tax of 1p in 2024

Wales Online

The graphs that will help you understand what’s happening with the economy

The OBR is predicting inflation will hit a 40-year high by the end of this year

Daily Mirror

Mini budget a 'slap in the face' as cash-strapped Brits tell Sunak 'thanks for nothing'

Struggling Brits tell the Mirror of dashed hopes at Chancellor Rishi Sunak's Spring Statement mini budget 'slap in the face' contained NOTHING to stop theworst fall in living standards since the 1950s

Wales Online

How will Chancellor's spring statement affect you and who will benefit from measures?

These are the main points of the Chancellor's spring statement along with the reaction of experts on whether the measures are strong enough

The Independent UK

How will the spring statement affect me?

Chancellor Rishi Sunak has announced additional support as households face the biggest fall to real living standards on record.

The Independent UK

UK set for biggest fall in living standards since records began, as inflation eats into GDP growth

The chancellor may face mounting pressure to increase help for households in the months ahead with an £830 rise in energy bills in October, the Office for Budget Responsibility has warned

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Arnold Schwarzenegger

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