Inflation and unemployment forecasts hiked as tax burden to hit record – OBR

Chancellor of the Exchequer Rachel Reeves poses outside 11 Downing Street (James Manning/PA) - (PA Wire)

Inflation and unemployment are set to be higher than expected in 2025 and 2026, according to leaked forecasts by the Office for Budget Responsibility.

It came as the UK’s official forecaster also reported that economic growth will be weaker than expected from 2026 to the end of the current Labour government, as the tax burden on the economy continues to rise.