The Latest Breaking News from OBR

City Voices: Investment decisions have already been made based on the incorrect economic analysis

Approaching one year on from the start of her tenure, a look back on how it all fell apart within 49 days

PM says he is comfortable with full uplift on state pensions, which cost the taxpayer £124bn this year

Jim O’Neill says OBR should be given new powers to emphasise economic benefits of public investment

Chancellor’s refusal to publish forecast contributed to stock market jitters and run on pound

More than 100 companies are set to send a letter to the PM voicing fears about the disastrous effects of Britain’s overreliance on gas

City comment: The OBR forecasts are meant to help us avoid apocalypse, rather than to seriously predict it

Government’s debt level ‘unsustainable’ without tax rises or cuts, suggests watchdog

So, the government has gone with option 1, sub-section c: accept the recommendations of the pay review bodies – with mostly no new money. This neatly avoids higher borrowing, inflation or taxation (more on that later), but means cash must be found from existing department budgets not exactly flush with…