Category: Office for Budget Responsibility

Unemployment set to hit 5.3% this year amid ‘worrying’ rise in young jobless

OBR raises forecast from 4.9% and downgrades UK’s growth prospects for 2026 – while also warning of war uncertaintyUnemployment in the UK is set to peak this year at a higher rate than previously estimated, with a...

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Spring forecast: Reeves insists Labour has ‘right economic plan’ as 2026 growth downgraded

Chancellor says she is in close touch with Bank of England governor and is meeting energy companies amid soaring oil and gas pricesBusiness live – latest updatesRachel Reeves insisted Labour has “the right economic...

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Boring or bust: Reeves aims to project calm competence in spring budget

After 18 months of policy U-turns and political turmoil we are told not to expect any last-minute policy rabbitsPoliticians tend to hate being boring but Rachel Reeves will be delighted if Tuesday’s spring forecast is...

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Brighter UK economy gives Reeves a springboard for March statement

Record public finances accompany stronger retail sales and business activity but some analysts express cautionThe economic backdrop to Rachel Reeves’s upcoming spring statement appeared to brighten on Friday after a trio...

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UK politics: Starmer says Reform’s pledge to restore two-child benefit cap in full is ‘shameful’ – as it happened

Reform UK’s Robert Jenrick has announced party’s plans to cut welfare spendingRobert Jenrick, Reform UK’s Treasury spokesperson, is giving his speech now.He has announced, or confirmed, three measures to cut...

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UK politics: Starmer says Reform’s pledge to restore two-child benefit cap in full is ‘shameful’ – as it happened

Reform UK’s Robert Jenrick has announced party’s plans to cut welfare spendingRobert Jenrick, Reform UK’s Treasury spokesperson, is giving his speech now.He has announced, or confirmed, three measures to cut...

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Starmer says Reform’s pledge to restore two-child benefit cap in full is ‘shameful’ – UK politics live

Reform UK’s Robert Jenrick has announced party’s plans to cut welfare spendingRobert Jenrick, Reform UK’s Treasury spokesperson, is giving his speech now.He has announced, or confirmed, three measures to cut...

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Jenrick says Reform UK would only allow British nationals to claim benefits – UK politics live

Reform UK’s Treasury spokersperson announces party’s plans to cut welfare spendingRobert Jenrick, Reform UK’s Treasury spokesperson, is giving his speech now.He has announced, or confirmed, three measures to...

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Reeves urged to reassure MPs over public finances amid £6bn-a-year Send costs

City analysts say financial market investors will be worried if cost is deducted from budget surplusRachel Reeves is under pressure to reassure MPs over the state of the UK’s public finances, amid concerns that the rising...

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City minister accused of ignoring £2bn car finance tax loophole

Critics say banks will be able to avoid tax on compensation payouts to victims of £11bn loans scandalThe City minister, Lucy Rigby, has been accused of snubbing taxpayers after she appeared to brush off concerns about a...

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UK government borrowing falls to £11.6bn in December

Official figures better than expected after stronger receipts than a year earlierBusiness live – latest updatesThe UK government borrowed less than expected in December, official figures show, after stronger receipts than...

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