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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Sunak ‘anxious’ about cost of living but defends ‘substantial’ help

Rishi Sunak has been accused of “gaslighting” the country over the cost of living crisis as he repeatedly declined to rule out launching a bid to lead the Conservative Party. The Chancellor has defended the package of measures he announced in his ...

25 Mar 2022 at 00:25

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 ...

28 Mar 2022 at 16:55

Tories have lost the plot with unfair taxes, Lib Dem leader claims

Sir Ed Davey has accused Boris Johnson’s Conservatives of having “lost the plot on tax” as he vowed the Liberal Democrats will fight for a fairer deal at the local elections. The Lib Dem leader kicked off his party’s campaigning for the May ...

06 Apr 2022 at 14:55

‘No easy answers’ to cost-of-living crisis, admits Johnson

Boris Johnson has said there are “no easy answers” to resolving the cost-of-living crisis as households face soaring energy bills and prices rising at their fastest rate for a generation. The squeeze on living standards was one of the main ...

29 Mar 2022 at 14:55

City

MPs call for probe into leaking of ‘market-sensitive’ information before Budget

Politicians on an influential committee have accused the Government of leaking market-sensitive information in the run-up to the last Budget. MPs on the Treasury Select Committee criticised leaks of details about hikes to the National ...

27 Jan 2022 at 01:25

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 ...

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 ...

19 Oct 2022 at 09:41

Truss and Kwarteng under pressure to U-turn on tax-cutting plan

Liz Truss and Kwasi Kwarteng are under pressure to U-turn over key parts of the mini-budget to help restore confidence in the Government’s economic plans. With Ms Truss’s leadership already being questioned after little more ...

13 Oct 2022 at 15:33

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 ...

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 ...

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 ...

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 ...

17 Nov 2022 at 15:43

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