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The Latest Breaking News from the Office for Budget Responsibility

The most chaotic Budget in living memory ends in complete shambles – before it’s even started

NEWS ANALYSIS: The accidental leak of details of Rachel Reeves’ Budget by the Office for Budget Responsibility before she got to her feet was one final bit of chaos for this make-or-break Budget, says political editor David Maddox

The Independent UK

What a freeze on income tax thresholds means for you

The freeze on income tax thresholds has been extended until the 2030-2031 tax year for taxpayers in England, Wales, and Northern Ireland. This extension is projected to raise £7.6 billion in revenue by 2030 and will lead to an increase in the number of UK taxpayers. The policy relies on…

The Independent UK

UK faces higher inflation and record tax burden in bleak new forecast

Leaked forecasts from the Office for Budget Responsibility (OBR) predict higher inflation and unemployment for the UK in 2025 and 2026 than previously expected. The OBR also indicated that economic growth will be weaker from 2026 until the end of the current Labour government, with the tax burden continuing to…

The Independent UK

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Huge cheers in Commons as two-child benefit cap scrapped

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The Independent UK

Fuel duty to increase for first time since April 2010

Fuel duty is set to increase for the first time in 16 years, with the current 5p per litre cut extended only until September 2026 before being reversed through a staggered approach. From April 2027, the Government plans to increase fuel duty rates annually in line with the Retail Price…

The Independent UK

Budget at a glance: What has Rachel Reeves announced?

Here, the PA news agency looks at the tax rises and cost-of-living measures in Wednesday’s Budget.

The Independent UK

Reeves to freeze thresholds after ditching planned income tax hike – reports

The Chancellor is understood to have U-turned after improved forecasting from the Office for Budget Responsibility.

Evening Standard

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Reeves ‘plots new property tax’ in Budget after income tax U-turn

Chancellor could bring in new levy on high-value properties and maintain the freeze on thresholds

The Independent UK

Three weeks till budget day – and now Rachel Reeves is ‘being honest’ about tax

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 Guardian - UK

Income tax rise not ruled out by Keir Starmer in PMQs clash on Budget with Kemi Badenoch

Millions of households are set to be hit with tax rises as Rachel Reeves seeks to plug a hole in the public finances

Evening Standard

Pound tumbles as markets take fright over Rachel Reeves' Budget woes with UK productivity downgrade

Sterling dropped to a two-and-a-half-year low against the euro before regaining some ground

Evening Standard

Fresh blow for Reeves as house builders warn Labour will struggle to hit 1.5m homes target

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

The Independent UK

Reeves insists Britain can ‘defy’ poor economic forecasts

The OBR is expected to deal the chancellor a further blow in November by downgrading its productivity forecasts for the economy

The Independent UK

Britain can ‘defy’ poor economic forecasts, says Chancellor

The OBR is expected to deal the Chancellor a further blow in November by downgrading its productivity forecasts for the economy.

Evening Standard

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Evening Standard

Fears grow over big tax rises in Budget as Rachel Reeves hit with £20 billion productivity blow

The Office for Budget Responsibility is set to downgrade its productivity forecasts by more than expected

The Independent UK

Budget blow for Reeves as UK’s key economic forecast slashed

Exclusive: Budget watchdog is set to downgrade a key economic performance indicator for the UK in a move that could drive tax hikes – as chancellor tries to shift blame on to Tories

Evening Standard

Reeves’ Nics hike stunting growth and pushing up food prices, Bank says

Higher labour costs in the food industry and supermarkets have pushed up costs for shoppers, the Bank of England said.

The Independent UK

Private school parents may be dodging Labour’s VAT by paying fees up front

Britain’s most expensive independent schools were paid hundreds of millions of pounds in fees in advance last year, according to new analysis

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Evening Standard

OBR boss denies forecast drove welfare cut proposals

Richard Hughes, facing the Commons Treasury Committee, rejected the suggestion the Office for Budget Responsibility’s forecast was now driving policy.

The Independent UK

The six starkest warnings from OBR as report lays bare the perilous state of UK public finances

Here are the most stark warnings in the Office for Budget Responsibility’s report

Evening Standard

Public finances on ‘unsustainable’ path due to spending promises, says OBR

Richard Hughes told a briefing in Liverpool that the projected rise in state pension spending would contributed to growing UK national debt.

Evening Standard

UK finances in ‘vulnerable’ position after reversed spending cuts, says OBR

The Office for Budget Responsibility said the state finances were facing ‘mounting risks’ in the face of growing debts.

Evening Standard

Complexity of Lifetime Isas increases risk of poor financial decisions, says Treasury Committee

The Treasury Committee said the design of the Lifetime Isa may be diverting people away from more suitable products.

The Independent UK

Savers should be warned about potential pitfalls of Lifetime Isas, MPs say

The Treasury Committee said savers should be aware of more suitable products

The Guardian - UK

Reeves expected to freeze income tax thresholds to raise funds after welfare U-turn

Government’s concessions over welfare cuts leave chancellor with a growing hole in her budget

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