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The Latest Breaking News from the Office for Budget Responsibility

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 Independent UK

Autumn statement: experts react to national insurance and business tax cuts

The UK chancellor, Jeremy Hunt, as announced a raft of changes to the tax and benefit system as part of the government’s autumn statement. They included:

The Conversation

Will Jeremy Hunt’s autumn statement revive the Tories’ election chances? Our panel responds

National Insurance cut; pensions and benefits increased. But is that enough to distract from sluggish growth and the rising cost of living?

The Guardian - UK

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OPINION - The Standard View: The Chancellor giveth, the Chancellor taketh away

The starting gun for the next general election campaign may have already been fired, but today’s Autumn Statement represents an intensification of hostilities. The Chancellor took some of the fiscal headroom handed to him by the Office for Budget Responsibility and sought to give voters — not least Tory backbenchers…

Evening Standard

Watch as Office for Budget Responsibility holds press conference after Hunt’s autumn statement

Watch as the Office for Budget Responsibility holds a press conference following Jeremy Hunt’s autumn statement.

The Independent UK

Hunt begins to ease historically high tax burden with eye on Tory election hopes

The Chancellor said high employment taxes ‘disincentivise hard work’.

The Independent 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

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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

Brexit: Michael Gove claims infamous £350m a week for NHS promise ‘delivered’

‘Promise made, promise delivered’, says cabinet minister who was key figure in Vote Leave campaign

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

Jeremy Hunt rakes in £40 billion more in income tax and NI as stealth taxes hit millions of workers, experts say

The Chancellor faces calls to cut taxes as Government annual borrowing was £13.2 billion lower than the Office for Budget Responsibility forecast last month

Evening Standard

Tax on beer frozen as part of Jeremy Hunt’s ‘Brexit pubs guarantee’

Chancellor was expected to hike duty on alcohol as new tax on drink strength comes into effect

The Independent UK

Budget 2023 in graphs from fuel duty cut to energy price cap

Fuel duty cut? Energy bills support extended? Here are the figures behind Jeremy Hunt’s measures

The Independent UK

UK to avoid recession but see living standards 'drop to levels not seen since 1950s'

The UK economy is set to avoid a recession but people are still expected to face the biggest fall in living standards on record, according to the…

The National (Scotland)

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Wales Online

No recession, but Brits are still facing biggest ever fall in living standards

Things are looking better than thought, but it's still not rosy

Manchester Evening News

Fuel duty and price of pints in pubs frozen

'British ale may be warm, but the duty on a pint is frozen'

The Independent UK

Tax on beer frozen as part of Jeremy Hunt’s ‘Brexit pubs guarantee’

Chancellor was expected to hike duty on alcohol as new tax on drink strength comes into effect

Wales Online

UK will not enter a recession this year, according to Office of Budget Responsibility, as inflation forecast to drop to 2.9%

The news came as Chancellor Jeremy Hunt began his spring Budget

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