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The Latest Breaking News from OBR

Liz Truss: Tories would have done better in UK election if I had stayed PM

Truss blames Tory MPs, Bank of England and OBR for dire reaction to her mini-budget – and refuses to back any leadership contender

The Guardian - UK

Rachel Reeves reconsiders end to non-dom tax status over OBR forecast fears

Chancellor says Treasury will be ‘pragmatic, not ideological’ amid claims the policy would not raise predicted £2.6bn

The Guardian - UK

Rachel Reeves could scrap non-dom tax raid, reports suggest

Officials suggest the government could ditch the manifesto plan if the numbers don’t add up

The Independent UK

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How Rachel Reeves could release billions more for investment in the budget

The chancellor has signalled that she may change some of the government’s fiscal rules in her speech. What are they – and what could that mean?

The Guardian - UK

Keir Starmer non-doms tax raid 'could yield no extra funds for Treasury'

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

Evening Standard

Reeves pushes for OBR to upgrade growth forecasts amid planning reforms

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

The Guardian - UK

Labour crackdown on non-doms may raise no money, officials fear

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

The Guardian - UK

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Why has there been a sharp rise in health-related benefits claims in Britain but not in similar countries? Expert Q&A

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.

The Conversation

Rachel Reeves to hike taxes by up to £16 billion in October Budget, warn economists

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

Evening Standard

The Observer view on the UK economy: Labour is holding back when it should be bold

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

The Guardian - UK

UK national debt could reach nearly 300% of GDP in next 50 years, watchdog warns

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

The Independent UK

Can UK avoid national debt almost tripling over next 50 years?

OBR report is not all doom and gloom, but preventing debt rising to 274% of GDP would require tough action

The Guardian - UK

UK debt projected to almost triple over next 50 years, watchdog warns

Public finances under pressure from ageing population, climate crisis and security risks, OBR report says

The Guardian - UK

Labour MP pushes for watchdog to assess PFI costs under budgets bill

Stella Creasy says she wants to put school and hospital debts and impact of trade deals ‘on nation’s books’

The Guardian - UK

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The Guardian - UK

These were not the economic choices I wanted to make, but they are right for Britain

Tory overspending and unfunded commitments have badly damaged the nation. Tough decisions are needed to rebuild it from the ground up, writes Rachel Reeves

International Business Times UK

UK Pensioners And Netizens Slam 'Double Whammy' As Energy Bills And Budget Cuts Loom

Analysis shows that energy bills this winter will be the highest on record for older people who previously received a winter fuel payment of up to £300.

The National (Scotland)

Read Keir Starmer's speech in full after 'painful' Budget warning

READ the full speech after Keir Starmer warned that the Labour government's first Budget, which is due in late October, will be "painful"…

The National (Scotland)

Rachel Reeves 'considering spending cuts and tax hikes as growth fails to deliver'

RACHEL Reeves is reportedly planning to hike taxes and stick with Tory spending cuts as economic growth fails to ease pressure on the public…

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news in one place.

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The Guardian - UK

Reeves can point to ONS public finances report as cover for a harsh budget

October review is expected to be eye-wateringly severe, but chancellor will draw on official data to make her case

The Guardian - UK

Rachel Reeves planning to raise taxes and cut spending in October budget

Chancellor insists she still has large black hole to fill despite stronger than expected growth in first half of 2024

The Guardian - UK

Reeves accuses Hunt of £22bn lie; nonsense, he says. What’s the truth?

Shadow chancellor says successor confected story of ‘black hole’ to distract from tax rises, but things are not clearcut

The Guardian - UK

Reeves and Hunt come to brink of fisticuffs over mysteriously absent £22bn

The chancellor blames her predecessor for everything, including her reinvention as a Ministering Angel of Death

The Independent UK

Pensioners hit by Reeves’s plan to fill £22bn black hole

Pensioners take the brunt of early spending cuts as Rachel Reeves delivers a brutal assessment of the nation’s finances

The Guardian - UK

Rachel Reeves is pulling off a transparent political manoeuvre. But she’s not entirely wrong

The Tories really did leave Britain in a fiscal hole. But austerity cannot be the remedy, writes economics and public policy professor Jonathan Portes

The Guardian - UK

How bad are Britain’s finances? Key questions and answers on the state of the economy

Several factors restrict the Labour government’s room for manoeuvre in its agenda for growth, writes Phillip Inman

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