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The Latest Breaking News from OBR

Council tax up £250 a year and 12p on petrol in autumn budget small print

600,000 more people could also now face Universal Credit sanctions, there is a new tax for electric car owners and house prices will drop 9%

Wales Online

Disposable income to suffer biggest drop since 1956

Watchdog shares grim outlook after Chancellor Jeremy Hunt outlines billions of pounds of stealth taxes and cuts

Wales Online

America is heading for a soft landing while the U.K. is expecting its worst decline in living standards—ever

Americans are fretting over an expected recession, but the economy is in many ways strong. Things are gloomier in the U.K.

Fortune

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Jacob Rees-Mogg criticises budget and refuses to blame Brexit for economic woes

The ex-business secretary said the Chancellor has taken ‘the easy option’ by increasing taxes

Evening Standard

Tory MPs demand fuel duty freeze amid warning of a 12p rise in March

The Office for Budget Responsibility estimated fuel duty will increase by 23% next spring under current plans.

The Independent UK

Biggest hit to living standards on record as Hunt lays out autumn statement

Austerity is pushed back until after the next election amid evidence of higher energy bills and a protracted recession

The Guardian - UK

Bristol estate agents react to Autumn statement and the prediction house prices will fall by 9%

"The ship just feels like it's being steadied; even though it's still tough, it’s easier to understand.”

Bristol Post

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Council tax bills to rise by £250 a year after Jeremy Hunt's massive hike

In his Autumn Statement, the Chancellor said local authorities will now be allowed to raise council tax by 5% a year, up from the current 3%

Daily Mirror

Bailing out bust energy supplier Bulb will cost taxpayers £6.5bn, figures show

The company collapsed in November last year and was put into a special government-handled administration

The Guardian - UK

UK government spending: where the cuts will fall

With health and education protected, other departments will struggle to cope with rising costs

The Guardian - UK

House prices forecast to fall over next two years

It comes as the government announced the stamp duty cuts announced in September's mini-budget will remain in place until 2025.

Manchester Evening News

House prices to fall by 9% as mortgage rates rise and stamp duty cut ends, experts warn

The typical house will drop in value by almost 10% by 2024, the Office for Budget Responsibility says, with property prices expected to start falling from later this year

Daily Mirror

Autumn budget key points at a glance and what it means for you

Chancellor Jeremy Hunt announced a wave of new economic measures on Thursday

Manchester Evening News

Autumn statement 2022: Grim historic milestones facing the UK economy

Living standards are set to slump back to levels last seen in 2013/14.

The Independent UK

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The Independent UK

Net migration to stay over 200,000, despite Sunak’s pledge to cut numbers

Post-Brexit visa rules far more generous than expected, Treasury watchdog says – posing problem for prime minister

The National (Scotland)

UK Budget leaves Scotland with 'no hope' of helping those most in need, says Swinney

THE Chancellor's budget announcements leave the Scottish Government with 'no hope' of helping those most in need when it comes to setting its own…

Wales Online

How long will the UK recession last and other top questions about the autumn statement answered

Chancellor Jeremy Hunt’s autumn statement has caused a spike in Google searches about the economy

Birmingham Post

Welsh business leaders and political parties have their say on Autumn Statement

The OBR concluded the UK is now in recession and was facing an increase in unemployment

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The Independent UK

House prices expected to fall by 9% over next two years, says OBR

Stamp duty cuts previously announced in the mini-budget will remain in place but only until March 31 2025.

The Independent UK

How long will the recession last in the UK?

The answers to some of the top trending questions following the Chancellor’s autumn statement.

The Independent UK

What does the Autumn Budget mean for house prices?

The OBR predict that house prices will fall by 9 per cent between end of 2022 and third quarter of 2024

Daily Mirror

Disposable income set for biggest drop since 1956, watchdog warns

The Office for Budget Responsibility (OBR) shared its grim outlook after Chancellor Jeremy Hunt outlined billions of pounds of stealth taxes and cuts

Manchester Evening News

How long will the UK recession last?

The government unveiled a series of economic plans to tackle the cost of living crisis and soaring inflation

The Independent UK

Martin Lewis gives verdict after government launches tax hiking Budget

Jeremy Hunt acknowledged there will be a ‘very big fall’ in living standards

Evening Standard

Living standards to plummet over next two years, warns OBR with tax burden highest since WW2

Real household disposable income per person is expected to drop by more than seven per cent by 2024 - wiping out a decade’s worth of gains

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