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The Latest Breaking News from Office for Budget Responsibility

Oil plunges to 10-month low as Saudi Arabia ‘considers Opec+ production increase’ – as it happened

Saudi Arabia and other OPEC oil producers are discussing an output increase. WSJ reports , which could help heal rift with the Biden administration

The Guardian - UK

Millions more to need benefits as recession woes bear down

The Office for Budget Responsibility forecasts a 13.4 per cent rise in people placed on health and disability benefits

The Independent UK

Long-term sick who struggle to work set to surpass one million within two years

The small print of the Office for Budget Responsibility report published alongside Chancellor Jeremy Hunt’s Autumn Statement shows the bill for more sickness and disability benefits will cost £7.5billion a year.

Daily Mirror

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Rishi Sunak pinning hopes on migrant workers - but doesn't want to shout about it

Office for Budget Responsibility stats released with Chancellor Jeremy Hunt’s Autumn Statement last week revealed net migration will rise from a March estimate of 129,000 in 2026 to 205,000

Daily Mirror

Chancellor Hunt is taking voters for fools with delayed cuts

THE UK economy is in recession. Taxes are at their highest in 70 years. According to the Office for Budget Responsibility, living standards are…

The National (Scotland)

The Guardian view on tax rises: a necessary change

Editorial: No one likes having to pay more, but hard times and Jeremy Hunt’s autumn statement have put the issue at the centre of politics

The Guardian - UK

Jeremy Hunt's autumn statement is a poisoned chalice for whoever wins the next election

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…

The Conversation

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Chancellor concedes Brexit made EU barriers and says migration ‘very important’

Jeremy Hunt insisted the UK would find a way to improve trading ties with the EU without rejoining the single market.

The Independent UK

Tory MPs demand fuel duty freeze amid warning of a 12p rise in March

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

The Independent UK

House prices to fall by 9% as mortgage rates rise and stamp duty cut ends, experts warn

The typical house will drop in value by almost 10% by 2024, the Office for Budget Responsibility says, with property prices expected to start falling from later this year

Daily Mirror

UK Budget leaves Scotland with 'no hope' of helping those most in need, says Swinney

THE Chancellor's budget announcements leave the Scottish Government with 'no hope' of helping those most in need when it comes to setting its own…

The National (Scotland)

Autumn Statement post-mortem: living standards to plummet as taxes soar

If there is one figure to bear in mind amid a sea of epically bad numbers in today’s Autumn Statement and accompanying Office for Budget Responsibility (OBR) fiscal outlook, it is this: underlying public sector net debt will be £400bn (18% of GDP) higher in 2026-27 than was forecast in…

Evening Standard

Disposable income set for biggest drop since 1956, watchdog warns

The Office for Budget Responsibility (OBR) shared its grim outlook after Chancellor Jeremy Hunt outlined billions of pounds of stealth taxes and cuts

Daily Mirror

How long will the UK recession last?

The government unveiled a series of economic plans to tackle the cost of living crisis and soaring inflation

Manchester Evening News

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The Independent UK

Martin Lewis gives verdict after government launches tax hiking Budget

Jeremy Hunt acknowledged there will be a ‘very big fall’ in living standards

Evening Standard

OBR: Brexit has had ‘significant adverse impact’ on UK trade

The Office for Budget Responsibility also forecast payments of £18.9 billion to Brussels under the terms of the Brexit financial settlement

Wales Online

Jeremy Hunt's autumn statement key points: What it means for you

The chancellor said the UK Government has to make some "difficult decisions" to "balance the nation's books"

Daily Mirror

Jeremy Hunt clobbers ALL Brits with barrage of tax rises and cuts as UK in recession

Jeremy Hunt has announced tens of billions of pounds of cuts and stealth tax rises in the Autumn budget statement - from council tax and income tax to energy bills, minimum wage and the state pension and benefits

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Daily Mirror

UK already in recession and GDP to fall by 1.4% in 2023, Jeremy Hunt says

Office for Budget Responsibility forecast that the UK economy will shrink further next year as Brits face rocketing inflation and cost-of-living crisis

The Independent UK

UK economy now in recession, Jeremy Hunt announces during Autumn Budget OLD

Office for Budget Responsibility says economy is shrinking again

Wales Online

What time is Jeremy Hunt's autumn statement budget and what will he say

The Chancellor is expected to announce tax rises, service cuts, changes to benefits and pensions and changes to energy bills

The Conversation

Inflation: how to improve official predictions – by asking the public

The eagerly awaited autumn financial statement from UK prime minister Rishi Sunak and chancellor Jeremy Hunt includes a key ingredient: a report from the Office for Budget Responsibility (OBR) on the predicted overall effects of the government’s policies on the economy. This is something the Liz Truss government studiously avoided…

The Independent UK

Rishi Sunak refuses to accept Brexit has damaged trade OLD

Trade secretary had dismissed predictions by Office for Budget Responsibility

The Guardian - UK

Non-dom tax breaks being reviewed by the Treasury in effort to raise revenue

Officials are also looking at incorporating cut in tax-free allowance for dividends into autumn statement

Daily Mirror

Suella Braverman referred to financial watchdog over 'insider trading' rules fear

Labour has asked the Financial Conduct Authority to investigate Suella Braverman's email leak after insiders said, in the wrong hands, it could have enabled 'insider trading'. There is no suggestion it was misused

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