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The Latest Breaking News from OBR

What we learnt from Rachel Reeves’ spring statement – and what it means for you

From energy prices to economic growth, here The Independent takes a look at everything we learnt from the chancellor’s spring statement

The Independent UK

Reeves warns of risk of higher energy bills as Iran war sends oil and gas prices soaring

Gas prices have almost doubled since the start of the attacks on Iran

Evening Standard

Spring statement 2026: Forecasts at-a-glance

Chancellor Rachel Reeves said she had the ‘right economic plan’ for the UK despite the budget watchdog slashing its forecast for growth this year.

Evening Standard

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Unemployment to jump to 5.3% as UK economy faces slower growth, says OBR

UK gross domestic product (GDP) is expected to grow by 1.1% in 2026, as the OBR cut its previous prediction of 1.4% from last November.

Evening Standard

Spring forecast: Reeves insists Labour has ‘right economic plan’ as 2026 growth downgraded

Unemployment predicted to continue rising to 5.3% as chancellor says she is meeting energy firms amid soaring oil and gas prices

The Guardian - UK

Iran conflict could have ‘very significant’ impact on UK economy, OBR warns; FTSE 100’s biggest fall in 11 months – as it happened

Spring forecast show UK unempoyment to peak higher than feared, as tax take heads for a record, but headroom against fiscal rules has increased

The Guardian - UK

Rachel Reeves’s plans could be hit by Middle East conflict, say economists

Warning comes as OBR projections in the spring forecast are expected to show public finances moving in the right direction

The Guardian - UK

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OBR a backseat driver with out-of-date maps, thinktanks tell Rachel Reeves

Chancellor urged to reform Office for Budget Responsibility to open way to more public investment

The Guardian - UK

Boring or bust: Reeves aims to project calm competence in spring forecast

After 18 months of policy U-turns and political turmoil we are told not to expect any last-minute policy rabbits

The Guardian - UK

Labour’s immigration crackdown could force Reeves to raise taxes, leading economists warn

Chancellor warned that sharper than expected fall in net migration risks hurting economic growth and tax revenues

The Independent UK

What are Reform’s economic pledges – and how sensible are they?

The former Tory minister made his first speech as Reform’s Treasury spokesman

The Independent UK

Reform would restore two-child benefit cap in full, Jenrick to pledge

The former Tory minister is to make his first speech as Reform’s Treasury spokesman.

Evening Standard

Jenrick to outline Reform plans for OBR and net zero

IN FULL

The Independent UK

Robert Jenrick to outline Reform UK plans for Bank of England and OBR

Nigel Farage named his top team on Tuesday, which included Conservative defectors Mr Jenrick and Suella Braverman.

Evening Standard

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The Independent UK

Reform UK to overhaul OBR if it gets into power, Robert Jenrick to say

Mr Jenrick will also claim that net zero efforts have become a ‘distraction’ for the Bank of England

The Guardian - UK

Starmer’s options in funding a further defence spending rise would be limited

Competing domestic priorities, Treasury borrowing limits and already nervous lenders are among the many obstacles

The Guardian - UK

Reeves urged to reassure MPs over public finances amid £6bn-a-year Send costs

City analysts say financial market investors will be worried if cost is deducted from budget surplus

The Independent UK

Warning millions more could be stung by Reeves’ tax raid on pensions

A 2,000-a-year cap on salary sacrifice contributions will come into effect from 2029

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The Independent UK

Warning issued over new salary sacrifice rules set to impact pensions

The schemes enable people to maintain their take-home pay as they end up paying lower national insurance contributions

Evening Standard

Salary sacrifice pension changes ‘could see people on modest incomes losing out’

From 2029, salary-sacrificed pension contributions above an annual £2,000 threshold will no longer be exempt from national insurance contributions.

The Independent UK

OBR has ‘earned people’s trust’ despite budget leak, says former chairman

Richard Hughes resigned from the Office for Budget Responsibility (OBR) in December over the mistaken early publication of its forecasts.

The Guardian - UK

Rachel Reeves sets early March date for spring statement as OBR prepares forecast

Treasury announces 3 March date to prioritise ‘stability and certainty’ after criticism of buildup to November budget

Evening Standard

‘Little Christmas cheer’ for Reeves as borrowing figures higher than forecast

A borrowing figure of £11.7 billion last month was higher than the £10 billion expected.

Evening Standard

FCA prepared to tweak car loan compensation scheme after pushback, boss says

The Financial Conduct Authority’s consultation on its proposed motor finance redress scheme closed last week, with more than 1,000 responses.

The Guardian - UK

MPs announce inquiry into work of Office for Budget Responsibility

Treasury committee will examine agency’s forecasting record and discover where it ‘needs to do better’

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