The Latest Breaking News from OBR

UK Chancellor Jeremy Hunt has produced a highly political autumn statement that throws forward major cuts in public spending to after the next general election. The accompanying economic forecast by the government’s Office for Budget Responsibility (OBR) confirms that the country is facing a recession, with unemployment rising, inflation still…

A close look at Thursday's budget shows a string of details buried in the small print which affect everyone

Watchdog shares grim outlook after Chancellor Jeremy Hunt outlines billions of pounds of stealth taxes and cuts

Americans are fretting over an expected recession, but the economy is in many ways strong. Things are gloomier in the U.K.

The ex-business secretary said the Chancellor has taken ‘the easy option’ by increasing taxes

The Office for Budget Responsibility estimated fuel duty will increase by 23% next spring under current plans.

Austerity is pushed back until after the next election amid evidence of higher energy bills and a protracted recession

"The ship just feels like it's being steadied; even though it's still tough, it’s easier to understand.”

In his Autumn Statement, the Chancellor said local authorities will now be allowed to raise council tax by 5% a year, up from the current 3%