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The Latest Breaking News from OBR

Income growth to stagnate as firms pass on taxes and benefits cut

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

Evening Standard

UK Spring Statement: Further budget cuts and halved economic growth

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.

Euronews

Rachel Reeves does reasonable job of justifying fiscal prudence but welfare cuts cast shadow

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

The Guardian - UK

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OBR warns of Trump tariff uncertainty as it downgrades UK growth

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

The Guardian - UK

Housebuilding to hit 40-year high as red tape cut, but buyers ‘need support’

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

Evening Standard

Trump tariffs could cut growth and wipe out Chancellor’s headroom, OBR warns

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

Evening Standard

Spring statement 2025 summary: Key takeaways from benefit cuts to tax crackdowns

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

The Independent UK

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Welfare cuts and growth slump: The key points from Rachel Reeves's Spring Statement

CHANCELLOR Rachel Reeves has used her Spring Statement to announce a series of public spending cuts ...

The National (Scotland)

Inflation to rise to 3.2% for 2025 as OBR slashes growth forecast

The Government’s official forecaster has also warned that interest rates are set to stay higher for longer

The Independent UK

Inflation to rise to 3.2% for 2025 as growth forecast slashed – OBR

The Office for Budget Responsibility (OBR) said on Wednesday that it expects UK gross domestic product (GDP) to rise by 1% in 2025.

Evening Standard

Spring statement: Reeves blames ‘global uncertainty’ for deeper spending cuts

Chancellor says tougher measures required to plug fiscal hole after Treasury watchdog halves 2025 growth forecast

The Guardian - UK

Spring statement at a glance: What was in Rachel Reeves’ announcement?

The Chancellor has made moves to reduce spending across Government.

Evening Standard

Rachel Reeves unveils fresh welfare cuts as growth forecast halved

RACHEL Reeves has set out further cuts to social security benefits as she confirmed the UK’s growth forecast for this year has been halved.

The National (Scotland)

Spring Statement 2025: More benefits cuts and crackdown on tax avoiders announced as growth forecast halved

Rachel Reeves confirmed the Office for Budget Responsibility had revised the UK’s growth forecast for 2025 from 2% in the autumn to just 1% today

Evening Standard

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The Guardian - UK

Late data from one business means UK wage growth may need to be revised, says ONS

Caveat from statistics agency is latest sign of its problems collecting reliable economic data

The National (Scotland)

Rachel Reeves set to announce further benefit cuts in Spring Statement

RACHEL Reeves is expected to announce further cuts in her Spring Statement on Wednesday, with more funding for the welfare budget expected to be…

The Independent UK

Rachel Reeves ‘set to impose further welfare cuts worth £500m’

The Office for Budget Responsibility is said to have rejected the Treasury’s saving estimates from last week’s welfare cuts, paving the way for even more difficult choices

The Independent UK

Reeves poised to make further welfare cuts as budget watchdog gives its verdict

Chancellor Rachel Reeves will acknowledge she needs to go ‘further and faster to kickstart growth’ in her spring statement .

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The Guardian - UK

Five economic factors that will govern Rachel Reeves’s spring statement

The chancellor will deliver her spring statement on Wednesday, warning of tough spending cuts amid rising government borrowing costs

Evening Standard

Reeves to address grim economic outlook as she faces budget watchdog’s verdict

Fiscal watchdog the OBR is reported to have warned that welfare cuts will not save ministers the £5 billion they had expected.

The Guardian - UK

Further benefits cuts planned as Rachel Reeves forced to find extra £1.6bn

Chancellor risks wrath of Labour backbenchers with spring statement set to confirm deeper cuts

Evening Standard

Rachel Reeves to announce extra £2.2billion defence spending in Spring Statement

Ms Reeves will insist the spending is the ‘right decision in a more insecure world’

The Independent UK

Reeves gets budget watchdog’s verdict as she hunts for elusive economic growth

Chancellor Rachel Reeves will set out how she will balance the books against a backdrop of economic stagnation.

The Guardian - UK

What are Rachel Reeves’s fiscal rules and could they be changed?

What are the economic constraints that underpin the chancellor’s spring statement – and why does she see them as vital?

The Independent UK

Budget 2025: What time is the Spring Statement – and what will be in it?

There have been several big policy announcements in the run-up to the event, most recently welfare changes to achieve £5 billion in spending cuts by 2029/30

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