The Latest Breaking News from OBR

With a £40bn hike, Rachel Reeves delivered the highest level of tax increases ever announced in a Budget, but questions remain as to whether her measures will deliver the economic growth she hopes for

Government investment is forecast to reach the highest sustained level since the 1970s.

Chancellor Rachel Reeves used Labour’s first budget since 2010 to put extra money into public services but sent taxes to a post-war high.

The Office for Budget Responsibility said it assumes that firms will ‘pass on most but not all of their higher tax costs to employees’.

Chancellor Rachel Reeves announced almost £70 billion of extra spending each year in her maiden budget.

BREXIT is continuing to have a “devastating” effect on the UK’s trade as a new report forecasts a long-term decrease in the economy due to…

Rachel Reeves’ Budget on Wednesday afternoon sought to address a ‘black hole’ in finances.

Chancellor heeds calls long made on the left for spending to match other European countries with rise of £70bn a year

Forecaster says extra spending revealed by Rachel Reeves will give only a short-term lift to economy

For the first time in 14 years, it was a Labour chancellor who delivered the UK budget. And for the first time ever, that chancellor was a woman. But Rachel Reeves faces an almighty task: plugging a £40 billion spending gap in the knowledge that pre-election promises not to raise…

Exclusive: Figures published alongside Budget spark claims UK’s exit from EU is ‘elephant in chancellor’s study’