34 h. ago Spending more on benefits would be ‘wrong approach’, Jackie Baillie says

Scottish Labour’s deputy leader defended the UK Government’s welfare cuts as she said the rise in the benefit bill is ‘unsustainable’.

Politics

4 d. ago US debt burden to top world war two peak in coming years, watchdog says

Congressional Budget Office’s forecasts come after Moody’s warned on the country’s public finances this week

Events

4 d. ago US economic growth to slow in the next 30 years, fueled by debt and declining birth rates, CBO says

Weak population gains and increased government spending will result in slower overall economic growth over the next 30 years, the nonpartisan Congressional Budget Office said Thursday

Economics

4 d. ago Millions of retirees face paying some of their state pension straight back to HMRC in 'bizarre tax cliff edge'

Latest forecasts from the Office for Budget Responsibility showed how the state pension is set to rise by 4.6 per cent next April.

Economics

4 d. ago Trump’s car tariffs pile pressure on Reeves’ new economic plan

Office for Budget Responsibility warns a global trade war risks eliminating UK chancellor’s fiscal headroom

Economics

4 d. ago Angela Rayner's workers' rights bonanza 'will hammer jobs market and the economy', watchdog warns

In a blow to Labour's deputy leader, the Office for Budget Responsibility said it did not have enough detail about her Employment Rights Bill to deliver a full verdict on its consequences.

Events

4 d. ago ALEX BRUMMER: The Office for Budget Responsibility must be stripped of its powers or all our wallets will suffer

ALEX BRUMMER: Of all the blunders Rachel Reeves has made since becoming Chancellor, none has been greater than her empowerment of the Office for Budget Responsibility (OBR).

Politics

5 d. ago Spring statement 2025 live: Trump tariffs could wipe out Reeves’s thin margin of error on budget, OBR warns

Office for Budget Responsibility said the most “severe” scenario would ‘almost entirely eliminate’ the Chancellor’s £9.9 billion headroom against her fiscal rules

Events

5 d. ago What changes were made to welfare reforms in the spring statement?

Rachel Reeves announced some adjustments to key plans for benefits announced last week.

Politics

5 d. ago Spring statement will lead to six months of ‘damaging speculation’, IFS warns

The Institute for Fiscal Studies said Rachel Reeves’ adherence to fiscal rules will lead to speculation about tax hikes in the autumn budget.

Events

5 d. ago Workers’ rights plans could have ‘negative’ impact, watchdog suggests

The Office for Budget Responsibility said regulations which ‘affect the flexibility of businesses and labour markets’ can have undesirable effects.

Politics

5 d. ago Labour on course to MISS 1.5million  homes target despite making it easier to to build on the Green Belt

The Chancellor insisted she was within 'touching distance' of hitting the target after the Office for Budget Responsibility (OBR) forecast 1.3million homes would be built by the 2029-30 financial year.

Events

5 d. ago Welfare reform will push 250,000 into poverty, Government’s own assessment says

Charities had already reported a surge in calls and visits to their advice pages following a welfare reform announcement last week.

Politics

5 d. ago 250,000 more people will face relative poverty after Rachel Reeves’ benefits cuts, DWP says – spring statement live

Department for work and pensions says thousands, including children, will be hit by chancellor’s reforms, as OBR forecasts UK growth to halve in 2025Spring statement 2025: key points at a glanceRachel Reeves will not be raising taxes in the spring statement today, even though there are many people on the left who would prefer taxes to rise as an alternative to public spending being cut. Reeves came into office promising only one budget-type event a year, and that is one reason why she is not hiking taxes today. But mainly it’s because she thinks Britons are relatively highly taxed already, because Labour was elected on a manifesto ruling out most of the obvious possible tax rises and because she’s not convinced a sweeping wealth tax would work.But that has not stopped campaigners calling for a wealth tax, and yesterday about 300 people attended a ‘Tax the Super-Rich’ rally outside the Treasury. It was organised by charities and social justice campaign groups, but one of the speakers...

Politics

5 d. ago Rachel Reeves announces MORE welfare cuts after watchdog judges Chancellor's previous benefits squeeze (announced only last week) was worth billions LESS than thought

The Chancellor put a further squeeze on benefits after the Office for Budget Responsibility said her previous action would not save as much as she'd hoped.

Economics

5 d. ago Donald Trump's trade tariffs plan could smash Rachel Reeves' hopes of a UK economic recovery as experts warn trade war would cut growth and raise inflation

The Office for Budget Responsibility (OBR) warned that if the protectionist US plan developed into a full-blown global trade war it could reduce UK GDP by a full 1 per cent on its own.

Economics

5 d. ago Inflation to rise to 3.2% for 2025 as growth forecast slashed – OBR

The Office for Budget Responsibility (OBR) said on Wednesday that it expects UK gross domestic product (GDP) to rise by 1% in 2025.

Economics

5 d. ago Economic growth forecast halved as Reeves blames global instability

Chancellor Rachel Reeves was forced to set out further cuts in public spending after the Office for Budget Responsibility’s verdict.

Economics

5 d. ago Reeves announces welfare changes, increased defence spending and new growth forecasts – spring statement live

Chancellor OBR forecasts for UK growth halved in 2025 but up in the remaining years of this parliamentSpring statement 2025: key points at a glanceRachel Reeves will not be raising taxes in the spring statement today, even though there are many people on the left who would prefer taxes to rise as an alternative to public spending being cut. Reeves came into office promising only one budget-type event a year, and that is one reason why she is not hiking taxes today. But mainly it’s because she thinks Britons are relatively highly taxed already, because Labour was elected on a manifesto ruling out most of the obvious possible tax rises and because she’s not convinced a sweeping wealth tax would work.But that has not stopped campaigners calling for a wealth tax, and yesterday about 300 people attended a ‘Tax the Super-Rich’ rally outside the Treasury. It was organised by charities and social justice campaign groups, but one of the speakers was Carla Denyer, co-leader of the Green party...

Economics

5 d. ago Keir Starmer faces PMQs before Rachel Reeves delivers spring statement – UK politics live

Chancellor is expected to announce further welfare cuts when she outlines departmental spending plansRachel Reeves will not be raising taxes in the spring statement today, even though there are many people on the left who would prefer taxes to rise as an alternative to public spending being cut. Reeves came into office promising only one budget-type event a year, and that is one reason why she is not hiking taxes today. But mainly it’s because she thinks Britons are relatively highly taxed already, because Labour was elected on a manifesto ruling out most of the obvious possible tax rises and because she’s not convinced a sweeping wealth tax would work.But that has not stopped campaigners calling for a wealth tax, and yesterday about 300 people attended a ‘Tax the Super-Rich’ rally outside the Treasury. It was organised by charities and social justice campaign groups, but one of the speakers was Carla Denyer, co-leader of the Green party, which is in favour of a wealth tax.Across th...

Politics