The Latest Breaking News from OBR

The Office for Budget Responsibility said it assumes that firms will ‘pass on most but not all of their higher tax costs to employees’.

Chancellor Rachel Reeves announced almost £70 billion of extra spending each year in her maiden budget.

For the first time in 14 years, it was a Labour chancellor who delivered the UK budget. And for the first time ever, that chancellor was a woman. But Rachel Reeves faces an almighty task: plugging a £40 billion spending gap in the knowledge that pre-election promises not to raise…

Exclusive: Figures published alongside Budget spark claims UK’s exit from EU is ‘elephant in chancellor’s study’

The Office for Budget Responsibility has predicted that UK gross domestic product will grow by 1.1% in 2024.

LABOUR’S first Budget in 14 years “fails to deliver” the change Scots expected from Keir Starmer, the SNP have said.

The Chancellor has clashed with the Tories over whether her Budget would push up mortgage bills

Watch as chair of the Office for Budget Responsibility (OBR) Richard Hughes held a press conference after Labour's Budget was announced on Wednesday, 30 October.

Chancellor Rachel Reeves said she was ‘fixing the foundations of our economy’ but taxes will rise to their highest levels since the Second World War.