The Latest Breaking News from OBR

Switch in budget plan causes cost of UK government borrowing to rise by the most in a single day since early July

Chancellor spent weeks preparing the ground for breaking manifesto pledge but events this week appeared to change her mind

The UK chancellor, Rachel Reeves, has made it clear that taxes will go up, and more cuts to welfare spending are on the horizon. The moves will be deeply unpopular and controversial – but in an extraordinary press conference ahead of the UK budget on November 26, Reeves made it…

Speech attempts to take back narrative with talk of ‘years of economic mismanagement’, Brexit and tariffs

The chancellor might need to break manifesto pledges and a 50-year taboo, but she has a chance to steer UK finances back on track, says Ruth Curtice of the Resolution Foundation

Poor output since the leave vote has landed Rachel Reeves with a bigger-than-forecast budget spending gap

The UK’s independent fiscal watchdog has reportedly cut its productivity forecast, deepening the challenging facing the Chancellor.

The warning is likely to harm prospects for the OBR upgrading its forecast for economic growth from construction

Rachel Reeves argued that austerity, Brexit and the pandemic had left ‘deep scars’ on the UK’s economy.