Presenting the latest economic forecasts compiled by the Office for Budget Responsibility (OBR), Britain’s Chancellor of the Exchequer, Rachel Reeves, insisted the plan she has pursued since Labour returned to power in the 2024 general election is beginning to deliver results.
This despite the OBR, the government’s independent fiscal watchdog, downgrading its growth forecast for 2026 to 1.1%, down from the 1.4% expansion projected in the Autumn Budget just three months ago.
