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The Latest Breaking News from OBR

Is this the new austerity? What the numbers say

With the chancellor announcing around £4.8 billion of cuts to welfare spending over the next five years, Alicja Hagopian looks at whether the UK is returning to the austerity policies of ther 2010s

The Independent UK

No evidence Labour welfare cuts will get more people into work, OBR says

The spending watchdog’s says it was not provided with an analysis of how the reforms could boost employment

The Independent UK

David Blunkett: the world has changed since Liz Truss’s mini budget, so what is Labour still so scared of?

Much has been said about UK chancellor Rachel Reeves’ self-imposed fiscal rules, and her repeated assertion – which she included in the spring statement – that they are “non-negotiable”. Of course, this is true if you’re not prepared to listen to alternatives, but in the real world there is no…

The Conversation

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read the most diverse news in one place.

Labour won't rule out tax break for Trump-friendly tech giants amid tariff update

A minister has refused to rule out giving tech giants a tax break in a bid to exempt Britain from US tariffs – after Donald Trump announced new…

The National (Scotland)

UK government defends welfare cuts as economists warn 250,000 could fall into poverty

Chancellor Rachel Reeves, whose Labour Party has promised an end to austerity, unveiled billions of pounds of new cuts on Wednesday.

Euronews

Carmaker shares slide after Trump’s 25% tariff; British Steel proposes closing Scunthorpe blast furnaces – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

Thursday briefing: Rachel Reeves cuts to balance the books – but at what cost?

In today’s newsletter: The chancellor insists on sticking to her fiscal rules, even as charities and her own backbenchers make the case for the burden to fall on the richest in society

The Guardian - UK

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Trump announces 25% tariffs on vehicle imports in fresh blow to Reeves

The US president announced that cars and light trucks imported into the US would be subject to the levy in the latest escalation of the Trump administration’s far-reaching trade war

The Independent UK

Rachel Reeves accused of balancing books on back of UK’s poorest

Labour is braced for a backlash from its MPs over welfare cuts called ‘appalling’ by a food bank charity

The Guardian - UK

Spring statement 2025: what does it mean for your finances?

OBR says average income of 3.2 million families affected by benefits cuts will drop by £1,720 a year in real terms

The Guardian - UK

Labour MPs condemn Rachel Reeves’s ‘unacceptable’ welfare cuts

Backbenchers express anger as impact assessment shows 3.2 million households will be worse off

The Guardian - UK

Everything is great, nothing to see here, Rachel Reeves tells MPs

Chancellor delivers a spring statement strong on wishful thinking and light on compassion for those hit by cuts

The Guardian - UK

What changes were made to welfare reforms in the spring statement?

Rachel Reeves announced some adjustments to key plans for benefits announced last week.

Evening Standard

Hopes rise for interest rate cut after inflation falls – but experts warn relief may be short-lived

The Bank of England have promised a “careful” approach to reducing the rate this year

The Independent UK

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Evening Standard

Rachel Reeves clings on for dear life, but if this spring statement doesn’t work she’ll be out

Far from becoming better any time soon, it looks like things can only get worse

Evening Standard

Spring statement 2025: Graphs reveal economic impact of Rachel Reeves' plans

GDP and productivity are not likely to grow at the pace that ministers had hoped

The Independent UK

Further tax hikes likely in autumn despite spending cuts, say economists

It came as the Government’s official forecaster cautioned that there was a ‘significant risk’ around meeting fiscal rules.

Evening Standard

Growth forecast halved this year in blow to Reeves

Chancellor Rachel Reeves said she was taking action to grow the economy but said she was battling global instability.

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Evening Standard

Workers’ rights plans could have ‘negative’ impact, watchdog suggests

The Office for Budget Responsibility said regulations which ‘affect the flexibility of businesses and labour markets’ can have undesirable effects.

Evening Standard

Lower inflation – what it means for bills, taxes and shopping

A fall in the cost of clothes was the main reason for a drop in the rate of inflation; however, imminent increases to the cost of services mean people may not feel any better off

Evening Standard

Graph reveals how UK tax burden will hit record high after Spring Statement

Income tax and national insurance contributions are the main drivers behind the jump in the overall tax burden

The Conversation

Spring statement: defence spending boosted as further disability benefit cuts announced – experts react

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 Independent UK

Martin Lewis gives verdict on spring statement as ISA reforms underway

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

The Independent UK

Will families be £500 better off after Reeves’ Spring Statement? Here’s what experts say

The chancellor insisted families would be better off even as further welfare cuts were announced

The Independent UK

How Rachel Reeves’ welfare cuts will affect your benefits - and how much they’ll save

The chancellor has revealed how benefits will be changing for millions of claimants

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People

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