The Latest Breaking News from OBR

Not even six months on from Labour’s first budget, and the world is a much-changed place. Geopolitical tensions and uncertainties, already high last year, have risen further, and with them the cost of the UK’s debt, while economic growth has stalled. As such, Chancellor Rachel Reeves has confronted an array…

The money expert focused on household income and rumoured ISA changes in his initial reaction

Disposable income growth will vary significantly around the 0.5% five-year average, the OBR said.

Britain's Chancellor of the Exchequer Rachel Reeves has laid out the latest on UK public finances. Her statement arrives at a moment when the nation needs to find billions to boost defence spending against the backdrop of an ailing economy. Here are the key takeaways.

Chancellor was able to point to glimmers of hope in spring statement despite economic growth forecasts being slashed

Treasury watchdog halves growth forecast to 1% for 2025 in report issued alongside spring statement

The Office for Budget Responsibility has forecast that Labour’s planning reforms will boost housebuilding by 170,000 over the next five years.

The UK continues to seek exemptions from US tariffs due to come into effect next week.

As the chancellor was forced to deliver a brutal spring statement due to the flatlining economy, The Independent looks at what cuts Rachel Reeves rolled out