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Evening Standard
Evening Standard
Politics
David Hughes

Tax hiked and growth downgraded as details of Budget released early

  • OBR apologises for publishing fiscal outlook early
  • Two-child benefit cap limit scrapped at cost of £3bn
  • £2,000 cap for salary-sacrifice pension contributions from April 2029
  • 3p a mile tax on drivers of battery electric cars from April 2028

The UK’s economy will grow more slowly than predicted over the next four years, according to a forecast that was published early in a Budget blunder.

The Office for Budget Responsibility (OBR) forecast gross domestic product would grow by 1.5% this year, an increase from its earlier 1% forecast.

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