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The Latest Breaking News from OBR

What today's dip in inflation means for your money and when prices will fall

Prices are still rising, but slightly less slowly

Wales Online

Brexit will cost UK workers about £1,300 in lost income each year, say experts

The impact of Brexit on people’s earnings could be ‘substantial’, say experts

Evening Standard

Brexit damage as big as Covid, says OBR – predicting five years before incomes recover

UK seeing ‘biggest squeeze on living standards’ on record, says head of fiscal watchdog

The Independent UK

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Jeremy Hunt plays down economic crisis risk as Budget watchdog warns of 'stress' in system

The Chancellor said the UK is in a better position than it was during the 2008 financial crash with a 'resilience that there wasn't back then'. But the chief of the OBR warned the system was 'under stress'

Daily Mirror

'It's not that difficult is it?' SNP MP in call to Tories to end 'denial' over Brexit

AN SNP MP has called on the Tories to end their “denial” about the negative effects of Brexit on the UK economy.

The National (Scotland)

OPINION - There are tax burdens hidden in Jeremy Hunt’s spring Budget

Jeremy Hunt’s Budget could cost UK housesholds thousands over the coming years

Evening Standard

Martin Lewis warns food bills may never drop down to what they were

Cost of living rocketed across UK during 2021 and 2022, with inflation still extraordinarily high

The Independent UK

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British workers ‘£11,000 worse off a year’ as wages fail to keep up with costs

Resolution Foundation says typical UK household income has fallen further behind Germany, with the gap at £4,000

The Independent UK

Budget 2023: why the UK's fiscal watchdog does not share the chancellor's optimism

UK chancellor Jeremy Hunt confidently described his first budget of 2023 as a “budget for growth”. He went on to offer a fairly upbeat assessment of both economic performance and future prospects, arguing: “The declinists are wrong and the optimists are right.”

The Conversation

Central banks must keep interest rates high to combat inflation, says OECD

Organisation also says UK will be only G20 economy apart from Russia to shrink this year

The Guardian - UK

What is Jeremy Hunt’s pensions giveaway and who gains most?

Chancellor’s changes have been criticised as a multibillion-pound handout to Britain’s wealthiest

The Guardian - UK

Hunt gets back on the boring track — but where’s the vision?

City Voices: More radical thinking needed to get Britain growing

Evening Standard

UK’s tax burden on course to hit highest level since Second World War

The UK’s tax burden is expected to reach a post-war high of 37.7% of GDP in 2027-28.

The Independent UK

Forget post-election tax cuts, we’re stuck in a lost decade, says IFS

The IFS has cast its eye over Jeremy Hunt’s Budget as millions of Britons face being dragged into paying more income tax

Evening Standard

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The Independent UK

Workers face extra £29.3bn-a-year burden from ‘stealth’ tax rises

‘Stealth’ tax to drag 5.3 million more people into paying tax or higher rate tax, figures show

The Independent UK

House prices set to fall by 10 per cent - and may not get back on track until 2026, watchdog warns

Drop even larger than forecast in November as incomes squeezed and mortgage rates expected to rise again

Evening Standard

Budget 2023: Hunt warns childcare support boost ‘can’t happen overnight’

Support to be ‘ramped up in orderly way’ amid concerns system won’t cope with increased demand but struggling parents say help arriving ‘too late’

The Independent UK

Jeremy Hunt’s ‘back to work’ Budget sees pension limits scrapped and free childcare extended

Labour says changes to pension pots will benefit ‘richest 1 per cent’

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The Guardian - UK

Hunt’s ‘budget for growth’ gives top 1% a pension bonus but ignores public services

No money for nurses, doctors or teachers note critics as Starmer says UK is on ‘path of managed decline’

The Independent UK

UK migration forecast to hit 245,000 despite Rishi Sunak’s pledge to cut arrivals

Revised figures up 110,000 on last year as post-Brexit Britain proves more attractive than feared

The Guardian - UK

UK economy will take more than a year to recover to pre-Covid level, says OBR

Jeremy Hunt’s efforts to boost growth unlikely to prevent largest fall in living standards on record

The Guardian - UK

Jeremy Hunt accused of ‘£20bn gamble’ on nuclear energy and carbon capture

Campaigners say chancellor is in the grip of the fossil fuel and nuclear lobbies and is ‘squandering taxpayers’ money’

The Guardian - UK

Hunt’s budget shows Britain is doing less badly – that’s not the same as doing well

Chancellor delivers ‘budget for growth’ but UK is battling rising interest rates, rising taxes and a cost of living crisis

The National (Scotland)

UK to avoid recession but see living standards 'drop to levels not seen since 1950s'

The UK economy is set to avoid a recession but people are still expected to face the biggest fall in living standards on record, according to the…

Wales Online

No recession, but Brits are still facing biggest ever fall in living standards

Things are looking better than thought, but it's still not rosy

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People

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