The Latest Breaking News from OBR

There is to be action but not a tax-and-spend splurge – just patient changes that will take time to pay off

The king’s speech has been delivered, marking the state opening of parliament (technically, this was the first king’s speech with a Labour government in 74 years). The speech was written by Keir Starmer’s government, not the king, and lays out the government’s agenda for the coming year. Here, a team…

The Tory-created OBR buoyed David Cameron but sunk Liz Truss. After the election, it may become Labour’s problem, says economics professor Jonathan Portes

City Comment: Political parties are not being straight with us about the fiscal constraints and trade-offs we face

The words “Liz Truss” and “mini-budget” have become shorthand for financial recklessness and economic chaos. But what was it about the former prime minister’s economic management that was so disastrous?

Shadow chancellor insists no additional tax rises will be needed beyond ones already announced by the party

ONS says budget deficit £1.5bn higher than previous year due to increased spending on benefits and weaker tax revenues

With public finances in a worse position than expected, chancellor Jeremy Hunt is considering pushing back further pledges

The former PM’s whingeing, unintentionally hilarious and scapegoating rant about the economy-crashing disaster of her time in No 10 is best read as a cautionary tale of hubristic zeal