The Latest Breaking News from OBR

Exclusive: Chancellor’s plan to change rules to allow more borrowing comes as cost of government debt rises

Move could unlock up to £57bn in additional spending on infrastructure in October’s budget

Labour is planning to use money gained in scrapping tax breaks for the super rich to pump into public services but there are fears many may quit the UK

Chancellor hopes to open up more spending headroom in budget by arguing changes could drive up growth

Exclusive: Watchdog may conclude that emigration of wealthy individuals could actually cost Treasury revenue

Since 2019, real-terms spending on health-related benefits in Britain has increased by £12 billion and is set to continue growing, according to a new report from the Institute for Fiscal Studies. However, comparable countries, such as France, Australia and the US, have not experienced similar increases in spending.

They believe the Chancellor may raise inheritance, pension and capital gain taxes

Ministers should stop wasting their time – and their hefty mandate – trying to make failed Tory policies work

Britain’s ageing population, climate change and rising geopolitical tensions all expected to put pressure on Treasury, OBR says