The Latest Breaking News from OBR

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

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…

Gloomy report says national debt could exceed 300% of GDP within next 50 years

UK GDP report for May shows that factory output and construction shrank during the month, with some blaming extra bank holiday

Inflation and borrowing costs make it less likely PM will be able to tackle debt or cut tax

Exclusive: Stuart McDonald's request for the economic watchdog to share the draft forecast it sent to Kwasi Kwarteng ahead of his mini-budget was upheld.

In blow to Rishi Sunak’s plans to cut taxes before general election, net debt reached £2.6tn at of end of May

The argument that markets will react badly to borrowing doesn’t wash, says the former shadow chancellor John McDonnell