The Latest Breaking News from OBR

So, the government has gone with option 1, sub-section c: accept the recommendations of the pay review bodies – with mostly no new money. This neatly avoids higher borrowing, inflation or taxation (more on that later), but means cash must be found from existing department budgets not exactly flush with…

Gloomy report says national debt could exceed 300% of GDP within next 50 years

UK GDP report for May shows that factory output and construction shrank during the month, with some blaming extra bank holiday

Inflation and borrowing costs make it less likely PM will be able to tackle debt or cut tax

Exclusive: Stuart McDonald's request for the economic watchdog to share the draft forecast it sent to Kwasi Kwarteng ahead of his mini-budget was upheld.

In blow to Rishi Sunak’s plans to cut taxes before general election, net debt reached £2.6tn at of end of May

The argument that markets will react badly to borrowing doesn’t wash, says the former shadow chancellor John McDonnell

New IMF report shows “a big upgrade to the UK’s growth forecast” says Jeremy Hunt, with UK expected to grow by 0.4% this year not shrink by 0.3%

David Miles says working from home, stalling population growth and higher interest rates will shape market

Former Ukip leader says ministers have failed to take advantage of leaving the EU

The Bank of England has changed its mind about the prospects for the UK economy. Having been predicting a recession in 2023 as recently as February, its latest May report is expecting a soft landing from the bout of high inflation and a year of interest rate hikes.