The Latest Breaking News from OBR

The chancellor is levelling with us about the pain to come. Is there anyone outside Planet Rachel who couldn’t see that truth two years ago, asks Guardian columnist Marina Hyde

The UK chancellor, Rachel Reeves, has made it clear that taxes will go up, and more cuts to welfare spending are on the horizon. The moves will be deeply unpopular and controversial – but in an extraordinary press conference ahead of the UK budget on November 26, Reeves made it…

The warning is likely to harm prospects for the OBR upgrading its forecast for economic growth from construction

Rachel Reeves argued that austerity, Brexit and the pandemic had left ‘deep scars’ on the UK’s economy.

Exclusive: Fiscal watchdog predicts productivity downgrade will leave chancellor with £20bn gap to fill in budget

THE INDEPENDENT VIEW: Editorial: With a £20bn Budget black hole to plug, the chancellor has no option but to break Labour’s manifesto pledge – tinkering in the margins will hurt growth, while slashing public spending will lead to electoral ruin

Editorial: Fixing prisons, hospitals and local councils means rejecting austerity’s logic and recognising that state spending builds competence, not waste

Economists say trying to balance the books by raising smaller taxes risks ‘unnecessary amounts of economic damage’

Rachel Reeves faces bigger-than-expected hit in 26 November budget from revised OBR forecast