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The Latest Breaking News from OBR

New PM’s spending plans must face scrutiny, says Treasury committee chair

Mel Stride says OBR must provide fiscal forecasts as Liz Truss urged to ‘come clean’ on promised tax cuts

The Guardian - UK

Treasury told to reveal if it is preparing for Liz Truss’s crisis budget in scrutiny row

Senior Tory says chancellor must help watchdog ‘publish independent forecast’ on economic impact of huge tax cuts

The Independent UK

Truss accused of bypassing scrutiny over Budget

Critics warn next PM would be ‘flying blind’

The Independent UK

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Labour calls for ‘national mission’ on home insulation to tackle soaring bills

Labour has set out plans to upgrade 19 million homes across the country over the next decade in a major insulation project.

The Independent UK

Truss told to be transparent over her plans for emergency cost-of-living budget

In the final fortnight of the leadership contest supporters of Rishi Sunak have seized on his opponent’s plans for an emergency budget.

The Independent UK

Sunak effectively rules out serving in a Truss cabinet, suggesting they don’t agree on ‘big things’ – as it happened

Tory leadership candidate says he is focused on race for No 10; energy bosses call for end to battle so new PM can tackle bills crisis

The Guardian - UK

Rishi Sunak’s camp tells Liz Truss to ‘come clean’ over ‘dangerous’ tax plans

The former chancellor’s team said the Foreign Secretary’s plans could force public finances into ‘serious jeopardy’.

The Independent UK

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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

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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The Independent UK

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 Guardian - 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 Independent UK

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

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

The Guardian - 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

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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 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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