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The Latest Breaking News from the Office for Budget Responsibility

Reeves insists she has right plan despite economic growth forecast cut

The Office for Budget Responsibility slashed the growth forecast for 2026 and hiked its expectation for unemployment.

Evening Standard

Lower net migration could hold back UK growth potential, OBR finds

The Office for Budget Responsibility said its forecast for net migration was lower than it previously predicted.

Evening Standard

What we learnt from Rachel Reeves’ spring statement – and what it means for you

From energy prices to economic growth, here The Independent takes a look at everything we learnt from the chancellor’s spring statement

The Independent UK

From analysis to the latest developments in health,
read the most diverse news in one place.

Spring Statement 2026: UK growth forecast slashed as unemployment set to peak with young people hit hardest

Chancellor Rachel Reeves insisted she has the ‘right economic plan’ for Britain despite the budget watchdog slashing its forecast for growth this year

Evening Standard

Rachel Reeves promises to keep families ‘better off’ under economic plans

IN FULL

The Independent UK

Budget watchdog downgrades growth forecast for 2026 as Reeves defends plan

Chancellor Rachel Reeves set out the Office for Budget Responsibility’s forecasts as the Iran war threatened to cast a shadow over the economy.

Evening Standard

FTSE 100 Live 03 March: Energy price surge continues, stocks deep in red

Fears of a new inflation spike have intensified after oil and gas prices today extended their upward momentum.

Evening Standard

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OBR has ‘earned people’s trust’ despite budget leak, says former chairman

Richard Hughes resigned from the Office for Budget Responsibility (OBR) in December over the mistaken early publication of its forecasts.

The Independent UK

MPs announce inquiry into work of Office for Budget Responsibility

Treasury committee will examine agency’s forecasting record and discover where it ‘needs to do better’

The Guardian - UK

Liz Truss mini-Budget torpedoed Brexit economic hopes, says expert as Labour seeks closer EU ties

The UK economy has suffered a multi-billion pound blow from quitting the European Union, according to the Office for Budget Responsibility

Evening Standard

OBR chairman resigns over Budget leak

Richard Hughes has served as chairman of the Office for Budget Responsibility since 2020 and was reappointed to the job in July.

The Independent UK

OBR chair quits after inquiry into early release of budget document

Richard Hughes takes ‘full responsibility’ for watchdog error as Starmer attempts to secure chancellor’s position

The Guardian - UK

Rachel Reeves denies lying about Budget black hole to justify £26bn tax hikes

Calls for investigation into accusation Labour chancellor misled the public

The Independent UK

Rachel Reeves denies lying about Budget black hole to justify tax hikes – UK politics live

Rachel Reeves denies breaking Labour manifesto pledge not to raise taxes – but admits she is asking people to pay more

The Independent UK

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Evening Standard

No 10 denies Reeves misled public over the UK's finances ahead of Budget

Conservative leader Kemi Badenoch claimed the Chancellor had ‘lied to the public’ and should be sacked

The Independent UK

No 10 denies Reeves misled over black hole as OBR letter challenges warnings

The Chancellor was told in October by the Budget watchdog that her spending plans would no longer incur a black hole.

The Independent UK

Starmer calls two-child benefit cap a ‘failed social experiment’ that had to go

Scrapping the benefit cap will cost around £3 billion by the end of this Parliament, according to the OBR

Evening Standard

Two-child benefit cap a ‘failed social experiment’ that had to go, PM says

Ditching the cap will cost about £3 billion by the end of this Parliament, according to the Office for Budget Responsibility.

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The Guardian - UK

The chancellor’s growth mission is missing in action

Businesses grumble about lack of ambition and urgency as Rachel Reeves continues to shy away from meaningful tax reform

The Conversation

How the financial markets reacted to the UK budget (and why they matter)

Rachel Reeves’s second budget landed in an unusual fashion. Before she delivered it, most of the key details had already been revealed accidentally by the Office for Budget Responsibility.

The Guardian - UK

Has Rachel Reeves broken her manifesto promises with the budget?

Reeves told MPs she had stuck to her pledges. Responding, Kemi Badenoch said the opposite. Who is right?

The Conversation

What will the budget mean for economic growth? Experts give their view

Since the election last year, the UK government has said economic growth is its top priority, as a way to improve living standards, cut NHS waiting lists and ease pressure on household finances. But with the Office for Budget Responsibility predicting growth this year to be a below-average 1.5%, it…

The Independent UK

The most chaotic Budget in living memory ends in complete shambles – before it’s even started

NEWS ANALYSIS: The accidental leak of details of Rachel Reeves’ Budget by the Office for Budget Responsibility before she got to her feet was one final bit of chaos for this make-or-break Budget, says political editor David Maddox

The Independent UK

What a freeze on income tax thresholds means for you

The freeze on income tax thresholds has been extended until the 2030-2031 tax year for taxpayers in England, Wales, and Northern Ireland. This extension is projected to raise £7.6 billion in revenue by 2030 and will lead to an increase in the number of UK taxpayers. The policy relies on…

The Independent UK

UK faces higher inflation and record tax burden in bleak new forecast

Leaked forecasts from the Office for Budget Responsibility (OBR) predict higher inflation and unemployment for the UK in 2025 and 2026 than previously expected. The OBR also indicated that economic growth will be weaker from 2026 until the end of the current Labour government, with the tax burden continuing to…

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