Government ‘would breach fiscal rules with minor rate rise’ November 5, 2024 The Chancellor would be in breach of her own fiscal rules if interest rates remain just 30 basis points higher than the fiscal watchdog forecasts, Office for Budget Responsibility (OBR) economists have said. Giving evidence to the Treasury Committee, OBR member Tom Josephs told MPs that his colleagues conducted analysis that found “a change of [...]
What will the Budget mean for the UK economy? October 31, 2024 “This budget delivers one of the largest increases in spending, tax and borrowing of any fiscal event in history,” Richard Hughes, chair of the OBR said.
Tax burden to rise to historic highs after Labour’s first Budget, OBR says October 30, 2024 "This budget delivers one of the largest increases in spending, tax and borrowing of any fiscal event in history," Richard Hughes, chair of the OBR said following the Budget.
Autumn Budget 2024: OBR forecasts how much economy will grow October 30, 2024 Forecasts from the Office for Budget Responsibility were published alongside the new government's first Budget.
Budget 2024: No10 claim Hunt trying to ‘blame referee’ as OBR row heats up October 29, 2024 Jeremy Hunt is trying to “blame the referee” amid a row over an OBR review into the previous government’s departmental spending plans, No10 has claimed. The former Chancellor has criticised the Office for Budget Responsibility (OBR) for choosing to publish its findings as to whether it was given adequate financial information from Conservative ministers ahead [...]
Jeremy Hunt accuses OBR of making a ‘political intervention’ over Labour’s blackhole review October 28, 2024 Chancellor Rachel Reeves has used the supposed existence of the £22bn blackhole as a justification to hike taxes in Wednesday's Budget.
Non-dom exodus could cost UK 23,000 jobs, disputed report claims October 18, 2024 Scrapping the non-dom tax regime could cost the UK £6.5bn and 23,000 jobs in the next ten years, a think tank has claimed in a report whose findings were questioned by leading academics. The study, published by free market think tank the Adam Smith Institute (ASI), suggests that abolishing the special status for wealthy foreigners [...]
Mark Carney: Ex-Bank governor says fiscal rules must enable greater public investment October 10, 2024 "If government money is being spent to build or buy an asset on behalf of the nation, it is only right that its value is captured in the definitions of national debt," he wrote in the Times.
Reeves promises ‘guardrails’ around extra borrowing in budget October 5, 2024 Chancellor Rachel Reeves has said she will introduce “guardrails” to ensure that extra borrowing for investment in her first budget is not excessive as she seeks to reassure investors about an expected rise in public debt. “It’s about making prudent, sensible investments in the long term and we need guardrails around that”, Reeves told the [...]
National debt: Government must reform or things will ‘blow up’ September 12, 2024 Sooner or later the British government is going to face a reckoning on the national debt.