All the updated news related to office for budget responsibility

All the news related to office for budget responsibility updated in real time

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Borrowing soars as runaway inflation pushes up interest

Interest payments on the UK’s debt helped push up borrowing last month, new official data shows. The Office for National Statistics (ONS) said Government borrowing hit £22.9 billion, the second highest June since records began in 1993. It is £4.1 ...

21 Jul 2022 at 09:58

Truss warned against ditching promise for 10.1% pension increase

Liz Truss and Jeremy Hunt have been warned not to betray older Britons by failing to keep a promise to increase the state pension by more than 10%. The Government is considering ditching a promise to increase pensions in line with inflation due ...

19 Oct 2022 at 09:41

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 “fiscal ...

07 Nov 2022 at 10:57

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. Here are the top ...

17 Nov 2022 at 15:51

Pound hits two-week high as Chancellor ‘brings forward debt plan and forecast’

The pound has rallied to a two-week high after reports that the Chancellor would bring forward his debt plan and economic forecast. Sterling edged above 1.14 US dollars on Tuesday morning as Kwasi Kwarteng promised to release the ...

04 Oct 2022 at 14:01

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 for Global Change (TBI) ...

29 Sept 2022 at 01:01

OBR ‘scrutiny’ valued say Truss and Kwarteng as forecast publication date given

The Government will “work closely” with the Office for Budget Responsibility (OBR) in the coming weeks after a key meeting between the Prime Minister, Chancellor and officials from the independent spending watchdog. The unusual ...

30 Sept 2022 at 14:08

Government should allow OBR’s economic forecast at mini-budget, MPs told

The Government should not announce major tax cuts without an independent economic forecast from the Office for Budget Responsibility, the head of a major economic think tank has warned. The Chancellor is set to announce tens ...

22 Sept 2022 at 20:13

MPs demand economic forecast alongside Kwarteng’s mini-budget

MPs have demanded that an independent forecast of the UK’s economic outlook is published alongside Chancellor Kwasi Kwarteng’s mini-budget. The Conservative chairman of the Commons Treasury Committee, Mel Stride, said data ...

20 Sept 2022 at 16:35

Northern Ireland

Squeeze on block grant putting pressure on NI services, fiscal report says

Stormont’s ability to deliver public services in Northern Ireland comparable to England is coming under increasing pressure from a squeeze on the block grant, a new fiscal report has stated. The Northern Ireland Fiscal ...

07 Sept 2022 at 12:35

Spring budget date set for March 15

Jeremy Hunt will set out a Spring Budget on March 15 2023, the Treasury has said. The Chancellor on Monday commissioned an Office for Budget Responsibility forecast, which will be presented alongside the budget. Mr ...

19 Dec 2022 at 12:10

Priti Patel calls on Jeremy Hunt to stop planned corporation tax rise

Former home secretary Priti Patel has urged the Chancellor to use his Budget next month to halt the planned corporation tax rise. The senior Conservative has argued that “now is not the time” for an increase in ...

25 Feb 2023 at 20:34

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