The Latest Breaking News from OBR

Growth forecasts likely to be downgraded, with rate-setting committee tipped to cut lending rate from 4.75% to 4.5%

Former Labour leader says government should show greater willingness to work with bloc

The chancellor’s attempt to get rich landowners to pay their fair share was correct in principle. But this measure has missed the mark

Downing Street said the move to soften non-dom reforms does not ‘change the overall approach’ to the Government’s policy.

THE INDEPENDENT VIEW: Editorial: As Rachel Reeves addresses the growing fiscal crisis in the House of Commons, there is a worrying sense that the work Labour did before the election to gain the confidence of business, attract investment and create jobs is being squandered in what will feel to many…

COMMENT: The chancellor has only herself to blame for failing to give herself any escape routes from humiliation, writes John Rentoul

In today’s newsletter: Economic uncertainty at home and abroad is causing problems for the Labour agenda – could this risk becoming the chancellor’s mini-budget moment?

Chancellor could slash departmental spending in spring after ruling out tax increase, officials reveal

Labour’s fiscal rules may limit the chancellor’s ability to act, but waiting it out may be the best option

Chancellor in danger of breaking fiscal rules after cost of servicing UK 10-year debt rises to highest level since 2008

Rachel Reeves faces an unenviable situation as the new year begins.