12 h. ago OBR chair quits after inquiry into early release of budget document

Richard Hughes takes ‘full responsibility’ for watchdog error as Starmer attempts to secure chancellor’s positionThe chair of the Office for Budget Responsibility has resigned after a damning internal inquiry into the leak that threw Rachel Reeves’s budget into chaos described it as the “worst failure” in the institution’s history.The departure of Richard Hughes, who said he took “full responsibility” for the watchdog’s failure to handle sensitive information, dragged the rolling recriminations over the budget into a fifth day. Continue reading...

Economics

15 h. ago OBR chair quits after inquiry into early release of Reeves’s budget

Richard Hughes departs after investigation into how official forecaster accidentally published budget 40 minutes earlyRichard Hughes, the chair of the Office for Budget Responsibility, has quit after the findings of an urgent inquiry by the watchdog into how it inadvertently published Rachel Reeves’s budget 40 minutes early.Hughes wrote to the chancellor and to Meg Hillier, the chair of the Treasury select committee, last week to apologise after the OBR uploaded its documents setting out the details of the budget before Reeves began to speak on Wednesday. Continue reading...

Economics

15 h. ago OBR Budget blunder had happened before, damning report reveals

The report says ‘ultimate responsibility’ rests with the leadership of the OBR, raising major questions for the watchdog’s chair Richard Hughes

Politics

17 h. ago Watchdog reveals reasons behind blunder that saw Budget details released early

The Office for Budget Responsibility (OBR) released key details of the Budget more than half an hour before Rachel Reeves stood up to deliver her speech to Parliament last week

Economics

38 h. ago More answers on extraordinary OBR Budget leak to be published soon

The investigation into the early release of Budget forecasts will report on Monday, the Chancellor has said

Politics

4 d. ago OBR chair under pressure over early release of Budget report

Senior Labour MP calls for UK’s fiscal watchdog chair Richard Hughes to ‘consider his position’

Economics

4 d. ago OBR chair under pressure over early release of Budget analysis

Senior Labour MP calls for UK’s fiscal watchdog chair Richard Hughes to ‘consider his position’

Economics

4 d. ago Budget leak mystery deepens as 'external person' now blamed for OBR release

The head of the Office for Budget Responsibility has given more clues about how an extraordinary release of the Budget contents in advance may have happened

Economics

5 d. ago Rachel Reeves says budget will cut living costs after shock OBR leak

Chancellor unveils action on energy bills, rail fares and two-child benefit cap as she reveals £26bn tax risesHow does freezing tax thresholds affect your tax bill?Budget 2025: key points at a glanceRachel Reeves has declared her budget will slash living costs for millions including ending the two-child benefit limit and cutting energy bills, but taxes are set to soar by £26bn to plug a gaping shortfall in the public finances.Major measures in the budget leaked early in a shock accidental release by the Office for Budget Responsibility (OBR), triggering an instant bond market reaction an hour before the chancellor was on her feet in the House of Commons. After months of speculation, Reeves said her measures would put the public finances on a sustainable path while building “a fairer, a stronger, a more secure Britain” by tackling inflation and investing in large infrastructure projects. Continue reading...

Economics

5 d. ago The chaotic UK Budget leak ruined Rachel Reeves' speech and did nothing to help Labour government's image

The scenes were shambolic as the OBR released the details of the Budget before Rachel Reeves got up to speak.

Politics

5 d. ago Live: Reeves asks ‘everyone to make contribution’ in Budget tax threshold freeze

The OBR has apologised after the unprecedented early release of its economic and fiscal outlook document ahead of the Budget.

Economics

5 d. ago Live: Tax hiked and growth downgraded in unprecedented early release of Budget

The OBR has apologised after the unprecedented early release of its economic and fiscal outlook document ahead of the Budget.

Economics

5 d. ago Criminal inquiry demanded as ‘unprecedented’ leak of Chancellor's Budget reveals £26bn tax rises

Rachel Reeves condemns ‘deeply disappointing’ accidental release of Budget details ahead of her Commons statement

Economics

5 d. ago Martin Lewis slams Budget bombshell leak with 'staggering' two

The Budget watchdog has accidentally released its major documents on the Budget before Rachel Reeves has delivered it to the Commons and Martin Lewis slammed the "staggering" mistake

Events

5 d. ago Furious Rachel Reeves blasts 'serious' Budget leak minutes before speech

Opening her Budget statement, Rachel Reeves told the Commons: 'It is my understanding that the Office for Budget Responsibility's economic and financial outlook was released on their website before this statement'

Politics

5 d. ago Budget 2025 live: Income tax thresholds to be frozen for three years in budget, OBR leak indicates

Forecasts from the Office for Budget Responsibility were accidentally published before Rachel Reeves gives her statementUK borrowing costs fall after early release of budget forecasts – business liveCould you do better than Reeves? Play our gamePaul Nowak, the TUC general secretary, has rejected the concerns raised by the Resolution Foundation (see 9.54am) about the rise in the minimum wage rates. Asked about the thinktank’s comments, Nowak told Times Radio:I don’t accept those concerns ...First of all, that recommendation is based on the Low Pay Commission, which brings together employers, unions, independent experts, they’re tasked with making a recommendation on the minimum wage, which balances getting money into people’s pockets and the impact on unemployment. Continue reading...

Economics

5 d. ago Budget 2025 LIVE: Early release fiasco reveals income tax thresholds frozen for another THREE years in £26billion tax raid

Office for Budget Responsibility increases its forecast for economic growth this year from 1% to 1.5% but downgraded its forecasts for the following four years

Economics

5 d. ago Live: Tax hiked and growth downgraded as Budget details released early

Ms Reeves is widely expected to pull the lever on tax hikes in order to fill a black hole in the public finances as she delivers her second budget.

Economics

5 d. ago Tax hiked and growth downgraded as details of Budget released early

The OBR confirmed Rachel Reeves’ Budget ‘raises taxes by amounts rising to £26 billion in 2029-30’.

Economics

5 d. ago Major Budget details leaked BEFORE Rachel Reeves announces them

The Budget watchdog has accidentally released its major documents on the Budget before Rachel Reeves has delivered it to the Commons. We'll be bringing you the latest updates on this Breaking Politics News story.

Politics