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The Latest Breaking News from OBR

Borrowing data offers boost to Chancellor’s tax cut plans

The Office for National Statistics said public sector net borrowing stood at £14.9 billion last month, £4.4 billion more than a year earlier,

The Independent UK

Autumn statement: where might Jeremy Hunt spend his windfall?

The chancellor is estimated to have billions to play with and has a range of options from lowering income tax to cutting inheritance tax

The Guardian - UK

Chancellor has 'headroom' for £15bn worth or tax cuts of new spending at Autumn Statement, analysis finds

But that doesn't include the cost of extending temporary schemes that are already in place, which is likely to take up most of the £15bn

Evening Standard

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What can Jeremy Hunt do with his £13bn headroom in the autumn statement?

Chancellor could try to win votes with a tax giveaway, but seems unlikely to improve the polls or the economy

The Guardian - UK

Jeremy Hunt weighing up inheritance tax cut in autumn statement

Chancellor considering move after fall in inflation and being told he will have more money to spend

The Guardian - UK

Labour motion to ban Truss-style budget meltdowns puts pressure on Tory MPs

Party loyalty would force Conservatives to vote against plan for fiscal responsibility

The Guardian - UK

Labour to put plans for strengthened OBR to Commons vote

Shadow chancellor Rachel Reeves said the plan would ‘prevent a repeat of Liz Truss’ disastrous mini-budget’.

The Independent UK

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A property price rise in the UK could be the Tories’ last election trump card

With the market expected to improve this year, the Conservatives will doubtless seek to exploit the reliable vote-winning tool

The Guardian - UK

UK government borrowing almost £20bn lower than expected

Despite figures for six months to end of September, analysts play down chance of pre-election tax cuts

The Guardian - UK

UK fiscal watchdog admits ‘genuine errors’ in inflation forecasting

OBR says it underestimated strength and persistence of inflation as well as impact of high energy prices

The Guardian - UK

Jeremy Hunt warns of ‘difficult decisions’ ahead as public finances worsen

Chancellor rules out tax rises and vows to cut spending in autumn statement as borrowing rises up to £30bn more than forecast

The Guardian - UK

Starmer vows more powers for OBR so Truss budget ‘disaster’ never happens again

The Labour leader said ministers would be legally bound to consult the official fiscal watchdog on tax and spending changes under his party’s plans.

The Independent UK

Labour says budget watchdog won’t be ‘gagged’ in future after disastrous Truss tenure

Planned boost to OBR’s powers outlined a year on from the Truss-Kwarteng mini-budget

Evening Standard

Factchecking Rishi Sunak’s claims on the net zero transition

We assess five claims used by the prime minister to try to justify his U-turn on green policies

The Guardian - UK

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The Guardian - UK

Boris Johnson called his allies ‘The Munsters’, new book alleges

The Right to Rule describes Johnson as isolated on back benches, ‘scathing’ in private about MPs who did back him

Evening Standard

OPINION - Liz Truss has learned nothing, still blames everyone else

That was weird. Five days short of the one-year anniversary of her disastrous ‘mini-Budget’, Liz Truss stood behind a podium at the Institute for Government (IfG) and blamed all her problems on other people.

The Guardian - UK

Liz Truss blames ‘groupthink’ for economic damage under her watch

While former PM takes some responsibility for markets crisis after mini-budget, she says main fault lay with Bank of England

The Guardian - UK

Transport minister refuses to say if government still committed to extending HS2 to Manchester and Euston – as it happened

Richard Holden responds to urgent question from Labour about HS2 but refuses to say if HS2 will still reach Manchester or Euston in London

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Evening Standard

Poor ONS forecasts could be hurting our economy

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

The Guardian - UK

‘She’s totally lost it’: inside story of the unravelling of Liz Truss’s premiership

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

The Guardian - UK

Dorries claims she is ‘working daily’ on behalf of her constituents amid calls for her to resign – as it happened

She made the comment in response to repeated claims she is neglecting her duty as an MP

Evening Standard

UK borrows £4.3bn in July as monthly interest hits new record

The deficit was slightly lower than the £5 billion forecast by City economists and some said it could give Jeremy Hunt scope for a limited tax giveaway

The Guardian - UK

Jeremy Hunt plays down tax cut plans despite lower borrowing than expected

Chancellor says government must not alter course as interest rate rises add to cost of debt

The Guardian - UK

Top UK CEOs handed 16% pay rise as millions of workers squeezed – as it happened

Data from the High Pay Centre thinktank showed FTSE 100 bosses collected an average £500,000 pay rise last year, taking their median pay to £3.9m

The Guardian - UK

Sunak pledges to keep to pension triple lock despite signs of extra £10bn cost

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

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