The devastating prognosis for the UK’s public finances Economic News/Analysis While much of the media obsesses over Nigel Farage’s fight with a man dressed as a bin, I have something more sobering to discuss as we kick off the weekend. The Office for Budget Responsibility’s report into fiscal risks and sustainability, published this week, is comfortably the most alarming yet. This is an annual review [...]
Pension pressure to help swell UK debt to three times size of economy Economics The growing cost of pensions is set to help swell UK public debt to three times the size of the economy and will place ‘unsustainable’ pressure on the public finances, the budget watchdog has warned, days after Andy Burnham pledged to retain the expensive triple lock after taking power. In its annual report on the [...]
From stamp duty to the triple lock, Andy Haldane says bold Burnham leadership can usher ‘vibe change’ for UK economy Politics Andy Haldane is pressing for a radical shake-up of the UK’s tax and wider economic systems as he heaped praise on the Prime Minister-to-be Andy Burnham for having the potential to bring a “change in vibe” across Britain. Haldane, who is advising Burnham on economic policies and growth, urged the country’s next leader to be [...]
Former Bank of England rate-setter to become next OBR chair June 23, 2026 A former rate-setter at the Bank of England and member of City AM’s Shadow Monetary Policy Committee is set to become the chair of the Office for Budget Responsibility, the fiscal watchdog which has come under pressure from MPs and inadvertently leaked last year’s Budget. Jonathan Haskel, professor of economics at Imperial College London, will [...]
The next Prime Minister can change the conversation on the fiscal rules June 23, 2026 Since the defenestration of Liz Truss, the OBR has become an obsession in British politics. It need not be this way. Independent fiscal institutions are supposed to inform politics, not rule it. Other countries use them as sources of transparency, not as judge, jury and executioner, says Helen Thomas The next Prime Minister and Chancellor [...]
‘No authority’: Starmer under pressure to quit after Burnham wins in Makerfield June 20, 2026 Sir Keir Starmer is facing fresh calls to quit from his own cabinet and a Labour peer after Andy Burnham’s triumph at the Makerfield by-election. Lord Falconer, a former justice secretary under Tony Blair, became the latest Labour figure to call for the Prime Minister to step down, saying he has “absolutely no authority”. Burnham’s [...]
Burnham turns to ex-OBR and Bank of England chiefs on economic policy June 19, 2026 Andy Burnham has turned to a crop of heavyweight economic advisers, including a former Bank of England economist and the ex-head of the Office for Budget Responsibility, in a bid to bolster his economic credentials ahead of a potential Labour leadership challenge, it has been reported. The new MP for Makerfield has sought advice from [...]
Andy Haldane: Britain after Brexit June 18, 2026 The UK economy is suffering from deep-seated psychological scarring caused by a sequence of crises, which necessitates a strategic re-imagining of the state’s role in generating growth, says Andy Haldane We are fast approaching the ten-year anniversary of Brexit – an event that is sure to leave a large and lasting scar on our economy, [...]
Reeves warned Iran war oil shock will lead to government borrowing spike June 2, 2026 Chancellor Rachel Reeves has been warned that government borrowing is set to spike as a result of the Iran war as the Office for Budget Responsibility admitted it had underestimated the effects of the last energy price shock. In a review of its forecasting models, the OBR suggested it had learned lessons from Russia’s full-scale [...]
OBR chiefs warn jostling Labour MPs against fiscal rules change May 19, 2026 Office for Budget Responsibility chiefs have warned Labour activists against changing the fiscal rules and overall framework to account for longer term impacts of government investment. The OBR’s David Miles and Tom Josephs said a ten-year forecast horizon would make for a “less credible” economic report and may not have any impact on bond investors. [...]