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The Latest Breaking News from OBR

Hunt knows he must scrap the ‘tourist tax’. But the politics are tricky

City Comment: The OBR might offer the Chancellor a way to present his U-turn as in the interests of UK plc as a whole, not just London

Evening Standard

Jeremy Hunt urged to scrap 'tourist tax' within weeks in Budget and give London significant economic boost

Jeremy Hunt was urged on Monday to scrap the “tourist tax” within weeks and give London a significant economic boost.

Evening Standard

Tax-free shopping for tourists in UK may return as government eyes rethink

Government spending watchdog asked to review costs and benefits of then chancellor Rishi Sunak’s 2020 ‘own goal’ decision

The Guardian - UK

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What state are government finances in and what legacy is Reeves likely to inherit?

Hunt has steadied the ship, but some may question whether there is really fiscal room for tax cuts

The Guardian - UK

Head of OBR says lack of budget details led to ‘work of fiction’ forecasts last year

Richard Hughes criticises lack of information from government about public spending plans

The Guardian - UK

Jeremy Hunt has room for £20bn tax cuts after borrowing halves year on year

December deficit is less than expected at £14bn – the lowest for the month since 2019

The Guardian - UK

Britain is crying out for more investment. Here’s why Labour shouldn’t worry about spending big

Investing in projects such as green schemes could boost growth and make public finances more sustainable. In other words, it’s a no-brainer, says economist Carsten Jung

The Guardian - UK

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Five charts explaining the UK’s economic prospects in 2024

As we enter an election year, how will the effects of inflation, weak GDP growth, unemployment, tax cuts and rising housing costs sway voters’ intentions?

The Guardian - UK

Sunak challenged by watchdog over claim to have cut public debt

Statements by PM may have undermined trust in government’s use of statistics, says regulator

The Guardian - UK

Top experts 'lay bare Tories' economic ineptitude' ahead of Scottish Budget

KATE Forbes has highlighted “critical quotes” from experts at the Office for Budget Responsibility (OBR) ahead of the announcement of the next…

The National (Scotland)

Jeremy Hunt’s debt reduction plan ‘a very big fiscal risk’, says OBR

Treasury’s independent forecaster says uncertain spending plans and higher than expected inflation could scupper cuts

The Guardian - UK

UK’s flagship post-Brexit trade deal worth even less than previously thought, OBR says

Office for Budget Responsibility says UK entry into the Indo-Pacific agreement will add just 0.04% to GDP in the long run

The Guardian - UK

House price forecast: almost 5 per cent fall expected in 2024, Office for Budget Responsibility documents show

Average house prices will fall next year says a new report – but property is more complex to predict than simple averages warn experts

Evening Standard

Hunt’s tax cuts mean interest rates won’t drop until summer 2024, economists warn

National insurance cut risks Bank of England being more ‘hawkish’ in battle against inflation

The Independent UK

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The Guardian - UK

Which public services will suffer most to pay for Tory tax cuts?

Already squeezed criminal justice system, schools and local government would face painful cuts if chancellor’s sums are to add up

The Conversation

What the UK government's back to work plan covers – and why it is unlikely to boost people's job prospects

Ahead of the UK government’s latest economic statement, the chancellor, Jeremy Hunt, and the secretary of state for work and pensions, Mel Stride, unveiled a new employment support package dubbed the back to work plan.

Evening Standard

Jeremy Hunt's Autumn Statement still leaves hundreds of pounds shortfall for workers despite tax cuts

Number crunching shows mixed picture despite Chancellor's claims

The Independent UK

Hunt hints at more tax cuts before next election after ‘making a start’

The Chancellor faces further analysis from the Office for Budget Responsibility on the autumn statement.

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The Guardian - UK

Jeremy Hunt’s autumn statement tax cuts fuel talk of spring election

Chancellor unveils 2p national insurance cut but thinktanks warn next government faces fresh round of austerity

The Independent UK

Jeremy Hunt hails biggest tax cuts since Thatcher but plans condemned as ‘not good for growth’

Chancellor ‘opens the door to May election’ with national insurance giveaway and hint of income tax cut in spring

The Independent UK

Voices: Chancellor hunts for growth as OBR cuts forecasts for Britain’s stuttering economy

A business investment tax break was made permanent, but it’s hard to see where else economic growth will come from, says James Moore

The Independent UK

Living standards, tax levels and other historical benchmarks

Disposable income is likely to be 3.5% lower in 2024/25 than before the Covid-19 pandemic.

The Independent UK

Watchdog lowers forecast for sales of electric cars

The Office for Budget Responsibility has reduced its forecast for electric vehicles’ share of new car sales in 2027 from 67% to 38%.

The Guardian - UK

Hunt ‘will create implausible austerity with post-election public spending cuts’

Thinktank attacks chancellor’s giveaways as OBR warns of ‘challenges’ for councils and services

The Guardian - UK

Rishi Sunak’s net zero delay ‘will slash demand for electric cars’

OBR analysis suggests higher energy prices and interest rates could reduce proportion of new cars sold that are electric from 67% to 38%

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