The Latest Breaking News from Office for Budget Responsibility

The Chancellor is expected to announce tax rises, service cuts, changes to benefits and pensions and changes to energy bills

The eagerly awaited autumn financial statement from UK prime minister Rishi Sunak and chancellor Jeremy Hunt includes a key ingredient: a report from the Office for Budget Responsibility (OBR) on the predicted overall effects of the government’s policies on the economy. This is something the Liz Truss government studiously avoided…

The figures won't be finalised until the latest forecasts from the Office for Budget Responsibility are received

British government debt rose to the highest level in almost 60 years last month and retail sales slumped

Pound holds gains and gilt yields remain lower as new chancellor rips up Trussonomics, pushing tax take to 70-year high this parliament

There’s relief among Conservative MPs as the new chancellor seeks to bring stability back to government

Business Secretary questioned the accuracy of OBR’s forecasting claiming its record hasn’t been ‘enormously good’

Here is what lies ahead for the under-fire Prime Minister over the next few weeks.

Concerns that fiscal plan may take longer to deliver than the traditional definition of three to five years