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The Latest Breaking News from OBR

Chancellor could have to break one annual fiscal event commitment – experts

The Chancellor will deliver a statement on March 26 in response to the latest forecast from the budget watchdog.

Evening Standard

Is Rachel Reeves about to fix Britain’s public finances on the backs of the poorest members of society?

THE INDEPENDENT VIEW: Editorial: As the chancellor prepares to present her plans for social security reforms she must assess whether her cost-cutting measures are unnecessarily punitive, or indeed realistic

The Independent UK

Starmer highlights UK’s war record in implicit rebuke to Vance as Lib Dems mock Badenoch for defending him – as it happened

Interventions follow US vice president’s comments about ‘20,000 troops from some random country that has not fought a war in 40 years’

The Guardian - UK

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Chancellor considers welfare cuts in bid to slash spending, reports say

LABOUR are considering several billion pounds in draft spending cuts to welfare and other departments ahead of the Spring Statement, according to…

The National (Scotland)

Cutting ‘waste’ or more tax: how Reeves could appease OBR in spring statement

A weak economy, higher borrowing costs and increased defence spending will mean tough decisions

The Guardian - UK

Fact check: Government plans will see defence spending hit 2.5% of GDP

It is unclear what the Prime Minister is using to claim that the increase would be £13.4 billion per year.

Evening Standard

Spring Forecast: When is it and what can we expect?

Rachel Reeves has come under pressure as the government seek to raise growth in the country

The Independent UK

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'Broken': UK living standards fall despite slight economic growth, data shows

THE UK economy unexpectedly eked out growth in the final three months of last year – but a key measure showed living standards actually fell,…

The National (Scotland)

Treasury launches leak inquiry over reports OBR has cut UK growth forecast

The watchdog is reported to have cut its growth forecast for the UK, causing problems for the Chancellor as she attempts to stick to her fiscal rules.

Evening Standard

Government ‘relentlessly focused’ on economy amid reports of lower growth – No10

The Office for Budget Responsibility is said to have cut its projections for economic growth.

The Independent UK

US job creation slowed in January; UK can’t say ‘job done’ fighting inflation, say’s BoE’s Pill – as it happened

US economy added 143,000 new jobs last month, fewer than expected

The Guardian - UK

Bank of England poised to cut interest rates amid UK economic gloom

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

The Guardian - UK

Starmer should end UK’s ‘cycle of hesitation’ with EU, says Neil Kinnock

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

The Guardian - UK

Rachel Reeves has to realise she can’t plough on with the farm tax

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

The Guardian - UK

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Evening Standard

Reeves plans to soften non-dom reforms after listening to concerns

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

The Independent UK

Tough times for the ‘Iron Chancellor’ who needs to regain the nation’s trust

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…

The Independent UK

Voices: Rachel Reeves is heading for the brick wall of an emergency Budget

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

The Guardian - UK

Friday briefing: Why spiralling borrowing costs spell trouble for Rachel Reeves

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?

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news in one place.

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The Guardian - UK

Reeves mulls deeper cuts to public services as borrowing costs soar

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

The Guardian - UK

Cuts, tax rises and doing nothing: Rachel Reeves’ options to tackle economic woe

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

The Guardian - UK

Why rising bond yields are rattling Rachel Reeves

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

The Independent UK

Reeves faces spending wrangles and a search for growth in 2025

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

The Guardian - UK

Reeves may have to U-turn over no more tax rises, warn economists

Dramatic economic slowdown means chancellor could face lower receipts and higher borrowing costs in 2025

The Guardian - UK

Brexit cost UK £27bn in lost trade in first two years, review finds

Despite fall in trade, LSE study says overall impact was more limited than OBR forecasters first estimated

Evening Standard

Chancellor commissions OBR forecast ahead of spring statement

The forecast, published on March 26, will be accompanied by a statement from Rachel Reeves.

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