Category: Office for Budget Responsibility

UK will be worst performer in G7 next year, OECD forecasts

UK constrained by high interest rates, price rises and staff shortages but thinktank offers optimistic outlook for global economyThe UK will be the worst-performing economy in the G7 next year, according to the Organisation for...

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UK economic outlook has worsened, warns OECD

Global forecast contrasts with downbeat assessment for a British economy constrained by high interest rates, price rises and staff shortagesThe UK’s economic outlook has worsened this year as high interest rates and the...

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Gordon Brown: UK has to get on war footing for economic growth

Former prime minister will tell thinktank the Treasury is in danger of retreating into ‘comfort zone’Britain needs to be put on an economic “war footing” if it is to break out of a vicious cycle of low...

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Chancellor to raise UK government borrowing to fund budget measures – OBR

Office for Budget Responsibility says national insurance and tax cuts will be paid for by average £8bn-a-year borrowing to 2028-29The chancellor will raise government borrowing to help fund a 2p cut in national insurance...

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Budget 2024: Hunt gambles with highest tax burden since second world war

Chancellor’s £10bn national insurance cut funded by ‘non-dom’ tax breaks is final major economic intervention before electionPolitics live: latest news and reaction on UK budgetBudget: key points at a...

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What are the UK’s ‘fiscal rules’ and why is the OBR under attack?

The Treasury watchdog is seen by some Tories as a block to tax cuts – and could be ignored by Jeremy HuntIt has been described as a millstone around the chancellor’s neck and the reason Conservative MPs could be...

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Jeremy Hunt’s ‘dubious’ financial planning lacks credibility, says IFS

Chancellor should resist temptation to announce unfunded tax cuts in March budget, advises leading thinktankJeremy Hunt’s financial planning is “dubious” and “lacks credibility” and the chancellor...

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Starmer says Labour would level up workers’ rights in way not attempted for decades – UK politics live

Labour leader tells conference that reforms ‘may not please everyone in room’The UK needs a government guided by clear purpose, Reeves says.Labour has set out five missions. But they are all tied to the economic...

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Business welcomes Labour’s pledge to cap corporation tax – UK politics live

Shadow chancellor Rachel Reeves tells business leaders Labour will give them certainty if it wins the next electionThe UK needs a government guided by clear purpose, Reeves says.Labour has set out five missions. But they are all...

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Labour will not raise corporation tax above 25% if it wins election, says Rachel Reeves – UK politics live

Shadow chancellor tells business leaders Labour will give them certainty if it wins the next electionThe UK needs a government guided by clear purpose, Reeves says.Labour has set out five missions. But they are all tied to the...

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Head of OBR says lack of budget details led to ‘work of fiction’ forecasts last year

Richard Hughes criticises lack of information from government about public spending plansForecasts on the outlook for the public finances last year were beyond “a work of fiction”, the head of the Treasury’s...

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Jeremy Hunt fuels election speculation as 6 March spring budget announced

Chancellor has asked OBR to prepare forecasts for the economy and public finances to be presented to parliamentBusiness live – latest updatesJeremy Hunt has announced the date of 6 March for a spring budget, fuelling...

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