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The Latest Breaking News from OBR

More UK workers to pay increased tax, Jeremy Hunt confirms

Chancellor Jeremy Hunt has been speaking in Parliament about his plans to try and stabilise the UK economy

Nottingham Post

UK faces record hit to living standards as tax hikes loom

Britain faces a record hit to living standards this year as surging inflation erodes incomes, the country's budget forecasters warned, after finance minister Jeremy Hunt announced more pain, with tax rises now and spending cuts further ahead.

Reuters

Chancellor confirms £55 billion fiscal 'consolidation'

The Scottish Government is set to receive around an additional £1.5bn over 2023-24 and 2024-25

Insider UK

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More people to pay higher rate of tax as inflation projected to fall in 2023

The Chancellor said inflation was predicted to fall next year

Wales Online

Autumn statement 2022: key points at a glance

Jeremy Hunt is announcing his financial update – here are the main points, with political analysis

The Guardian - UK

Inflation: how to improve official predictions – by asking the public

The eagerly awaited autumn financial statement from UK prime minister Rishi Sunak and chancellor Jeremy Hunt includes a key ingredient: a report from the Office for Budget Responsibility (OBR) on the predicted overall effects of the government’s policies on the economy. This is something the Liz Truss government studiously avoided…

The Conversation

Rishi Sunak refuses to accept Brexit has damaged trade OLD

Trade secretary had dismissed predictions by Office for Budget Responsibility

The Independent UK

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Autumn Statement 2022 predictions: How will tax rises affect you and what will happen to the state pension?

What can we expect from the first major economic intervention from Jeremy Hunt and Rishi Sunak which is set for November 17.

Chronicle Live

Chancellor Jeremy Hunt delays Autumn Budget statement until next month

CHANCELLOR Jeremy Hunt has delayed the Autumn Statement until next month following the appointment of Rishi Sunak as Prime Minister.

The National (Scotland)

Jeremy Hunt may have little choice but to usher in a new age of austerity

The Truss-Kwarteng blunders have seen off any hope that people-friendly policies will be pursued

The Guardian - UK

Chaos in Westminster: why Liz Truss finally lost control of MPs

In a night emblematic of Liz Truss’s chaotic premiership, confusion reigned in parliament as an opposition day motion on the contentious issue of fracking became a confidence vote in her leadership. Labour MPs reported seeing Conservatives being manhandled and “bullied” into the chamber by government whips – who reportedly attempted…

The Conversation

End of triple lock is just another broken promise by PM in Name Only

Librium Liz gets through another day of humiliation for herself, her party and her country

The Guardian - UK

Mini-Budget U-turns mean interest rates may NOT rise as much as feared, say experts

The new Chancellor Jeremy Hunt this morning announced he will scrap major policies planned by his predecessor Kwasi Kwarteng, in an attempt to calm rattled markets

Daily Mirror

Jeremy Hunt may still have to find £40bn of cuts as chancellor, say experts

Kwarteng’s replacement is warned of inflation impact, crumbling services and financial ‘black hole’ that he has two weeks to fill

The Guardian - UK

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The National (Scotland)

Kwasi Kwarteng says he's not resigning as Chancellor despite 'inevitable' U-turn reports

KWASI Kwarteng appeared not to rule out a U-turn on corporation tax amid growing pressure to abandon more elements of the mini-budget that have…

Evening Standard

Kwarteng says ‘let’s see’ on corporation tax U-turn as pressure mounts

Chancellor hints at possible change of course on mini-budget amid growing Tory calls for rethink

The Guardian - UK

Another U-turn looms – how much will it save and what else could the chancellor ditch?

Corporation tax plans likely to be latest to be dropped – bad news for Kwarteng’s credibility, but good for his balance sheet

The Independent UK

Chancellor says ‘let’s see’ on corporation tax U-turn amid growing pressure

Kwasi Kwarteng has said he is ‘totally focused’ on delivering the tax-cutting plans in the mini-budget

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news in one place.

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The Independent UK

Don’t wait for ‘inevitable’ U-turn on mini-Budget, George Osborne tells Liz Truss

Chances needed now, suggests former chancellor – as Priti Patel says ‘market forces’ could force reversal

Wales Online

Pressure on Truss and Kwarteng to announce more U-turns as IMF hints at need for 'recalibration of policies'

IMF leaders also had a 'constructive' meeting with Kwarteng

Evening Standard

Downing Street distances itself from Jacob Rees-Mogg’s attack on Office for Budget Responsibility

Business Secretary questioned the accuracy of OBR’s forecasting claiming its record hasn’t been ‘enormously good’

The Independent UK

Ditching Truss would be ‘disastrously bad idea’, says ally Cleverly

Foreign Secretary James Cleverly said the Government is focused on getting economic growth despite the market turbulence.

The Independent UK

Slapdown for Rees-Mogg over attack on economic forecasters

Business secretary’s broadside fuelled speculation of damning OBR verdict on Kwarteng mini-Budget

Daily Mirror

Jacob Rees-Mogg slapped down by No10 and top expert for attacking Tories' budget watchdog

A top economist said Jacob Rees-Mogg was half-right about the government's Budget watchdog being inaccurate... because the economy is actually WORSE than it predicted

The Guardian - UK

Mini-budget will not lead to promised growth, leading economists tell MPs

Economic confidence in UK seriously undermined by Kwarteng and Truss’s ‘guerrilla tactics’, Commons committee hears

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