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The Latest Breaking News from OBR

Taxes will have to rise further despite Reeves’ £40bn tax grab, IFS director warns

Rachel Reeves has hit back at criticism of her Budget after the chancellor received backing from the International Monetary

The Independent UK · Oct 31, 2024

UK politics: Starmer insists pro-growth policies on way after OBR’s budget warnings – as it happened

PM says budget just ‘first step’ after watchdog said measures would make no difference to growth over five years

The Guardian - UK · Oct 31, 2024

Taxes to rise higher AGAIN in next few years and wage increases hit, warn IFS economists after Reeves Budget

The Institute for Fiscal Studies also stressed that much of the National Insurance rise on employers would feed through into smaller pay rises for workers

Evening Standard · Oct 31, 2024

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Post-budget sell-off of government bonds by worried City traders intensifies, pushing up UK borrowing costs – as it happened

Institute for Fiscal Studies says increasing borrowing to fund investment ‘right thing to do’

The Guardian - UK · Oct 31, 2024

Thursday briefing: What you need to know about Rachel Reeves’s plans for the economy

In today’s newsletter: They spent weeks bracing the country for ‘tough decisions’, but in Labour’s first budget in 14 years, the chancellor adopted a slightly more optimistic tone

The Guardian - UK · Oct 31, 2024

Reeves to face scrutiny over Budget that raises taxes, borrowing and spending

The overall tax burden will reach a record 38.3% of gross domestic product (GDP) in 2027-28.

Evening Standard · Oct 31, 2024

Rachel Reeves bets on public spending increases in budget winning over voters

Chancellor hopes cash injection for NHS and extra money for public services will make public forgive higher taxes and slow growth

The Guardian - UK · Oct 30, 2024

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Fact check: Budget 2024 claims about National Insurance, bus fares and growth

Round up of fact checks about the Autumn Budget 2024, compiled by Full Fact.

Evening Standard · Oct 30, 2024

Rachel Reeves didn’t scare the markets. But nor did she impress with a growth plan

Businesses adopt a wait-and-see response as it becomes clear the autumn budget is part of a long-term missionBusinesses react to

The Guardian - UK · Oct 30, 2024

Rachel Reeves gambles on £40bn tax rise in her first Budget

With a £40bn hike, Rachel Reeves delivered the highest level of tax increases ever announced in a Budget, but questions remain as to whether her measures will deliver the economic growth she hopes for

The Independent UK · Oct 30, 2024

Historical benchmarks and milestones in Rachel Reeves’ first Budget

Government investment is forecast to reach the highest sustained level since the 1970s.

The Independent UK · Oct 30, 2024

Reeves uses first Budget to hike taxes, increase borrowing and boost spending

Chancellor Rachel Reeves used Labour’s first budget since 2010 to put extra money into public services but sent taxes to a post-war high.

Evening Standard · Oct 30, 2024

Firms ‘set to pass on most of higher tax costs to employees through lower wages’

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

The Independent UK · Oct 30, 2024

Inflation and mortgage rates elevated by Chancellor’s spending plans, says OBR

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

The Independent UK · Oct 30, 2024

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The National (Scotland) · Oct 30, 2024

Brexit continues to have 'devastating' effect on UK economy, OBR warn

BREXIT is continuing to have a “devastating” effect on the UK’s trade as a new report forecasts a long-term decrease in the economy due to…

The Independent UK · Oct 30, 2024

Budget watchdog finds £9.5bn shortfall in previous government’s spending plans

Rachel Reeves’ Budget on Wednesday afternoon sought to address a ‘black hole’ in finances.

The Guardian - UK · Oct 30, 2024

Rachel Reeves goes back to the future with a tax and spend budget

Chancellor heeds calls long made on the left for spending to match other European countries with rise of £70bn a year

The Guardian - UK · Oct 30, 2024

OBR says budget unlikely to lift economic growth over next five years

Forecaster says extra spending revealed by Rachel Reeves will give only a short-term lift to economy

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The Conversation · Oct 30, 2024

What Labour’s first budget means for wages, taxes, business, the NHS and plans to grow the economy – experts explain

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…

The Independent UK · Oct 30, 2024

Catastrophic cost of Brexit on UK trade revealed in stark OBR warning

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

Evening Standard · Oct 30, 2024

UK economic growth upgraded this year amid ‘temporary boost’ from spending

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

The National (Scotland) · Oct 30, 2024

Stephen Flynn reacts to Labour Budget as 'Scots still paying the price'

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

Evening Standard · Oct 30, 2024

Mortgage rates to rise after Rachel Reeves' tax, borrow and spend Budget, says official forecaster

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

The Independent UK · Oct 30, 2024

Watch: Office for Budget Responsibility responds to Rachel Reeves’ £40bn tax hikes

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.

Evening Standard · Oct 30, 2024

Taxes, borrowing and spending up in Rachel Reeves’ first Budget

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.

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