All the updated news related to obr

All the news related to obr updated in real time

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Sanctions on Russia ‘not cost-free’ for UK, warns Chancellor

Standing up to Russia and providing support for Ukraine will not be “cost-free” for the UK economy, Rishi Sunak has warned. The Chancellor pitched his spring statement on Wednesday on the issue of security, as he said a strong economy at home meant ...

23 Mar 2022 at 16:55

City

Cost-of-living support not targeting benefits claimants, OBR warns Chancellor

The poorest in society are less likely to enjoy the benefits announced in the spring statement last week because the support packages focused so heavily on those in work, according to the Government’s own economists. Officials from the Office for ...

28 Mar 2022 at 16:55

UK faces risk of recession from cost crunch and ballooning debt burden – OBR

Soaring energy prices and inflation threaten to tip the UK into recession while government debt levels could more than treble unless taxes are hiked, the UK fiscal watchdog has warned. The Office for Budget Responsibility (OBR) said the UK ...

07 Jul 2022 at 11:58

Chancellor weighs up £35bn in spending cuts to fix hole in public finances

Chancellor Jeremy Hunt is said to be preparing up to £60 billion in tax rises and spending cuts as he navigates “difficult decisions” on the UK’s battered public finances. Treasury sources confirmed that as much as £35 billion of the ...

07 Nov 2022 at 10:57

Raising taxes on businesses and people ‘stifling’ growth, Tories warn Chancellor

Raising taxes on both businesses and hard-working people risks “stifling” growth and productivity, the Chancellor has been warned by Tory MPs. A Conservative former minister meanwhile called on the Government to ensure that ...

17 Nov 2022 at 16:02

How long will the recession last in the UK?

Chancellor Jeremy Hunt’s autumn statement has caused a spike in Google searches about the economy. The trending search terms include everything from what the OBR stands for to what the new rate is for the state pension. ...

17 Nov 2022 at 15:51

Economy set to shrink by 2% as Government debt to soar £400bn higher – OBR

Government debt is set to balloon £400 billion higher than previously expected, warned the fiscal watchdog as it unveiled a bleak outlook for the UK economy. The Office for Budget Responsibility (OBR) said the economy ...

17 Nov 2022 at 17:12

Electric vehicles lose VED exemption

Electric vehicle (EVs) owners will be hit by a new tax from April 2025. Chancellor Jeremy Hunt announced in his autumn statement that zero-emission vehicles will lose their vehicle excise duty (VED) exemption from ...

17 Nov 2022 at 15:43

Toughest tightening of public spending pushed back in Hunt budget

Public spending will face a squeeze under Jeremy Hunt’s autumn budget but most of the pressures may not be fully felt until after 2025. However, it means that the Conservatives could be out of office by the time ...

17 Nov 2022 at 18:59

Scotland

Scottish budget to be published on December 15, Swinney confirms

The Scottish Government will unveil its draft budget for the coming year on December 15. Deputy First Minister John Swinney – who is responsible for the finance and economy brief while Finance Secretary Kate ...

06 Oct 2022 at 12:48

Chancellor’s mini-budget to pile on debt interest, warns Tony Blair Institute

The mini-budget unveiled by the Chancellor last week will pile on higher debt interest but only grow the economy by 0.1% each year until 2027, experts have warned. New research by the Tony Blair Institute ...

29 Sept 2022 at 01:01

Ministers vow ‘spending discipline’ after mini-budget market chaos

Ministers have insisted the Government remains committed to “spending discipline” after Chancellor Kwasi Kwarteng’s £45 billion mini-budget tax cuts caused havoc in financial markets. As Tories head to ...

01 Oct 2022 at 13:41

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