OBR halves UK growth to 1%
The Office for Budget Responsibility (OBR) has downgraded the UK’s growth forecast for 2025 to 1%, down from the 2% it predicted last year during Reeves’ Autumn Budget.
The chancellor confirmed during her address in the House of Commons today that due to “increased global uncertainty”, the independent body had revised its growth forecasts down.
Spring Statement 25: OBR halves UK growth forecast to 1% for 2025
However, Reeves said her changes to public spending have caused the OBR to upgrade the UK’s growth expectations for 2026, 2027, 2028 and 2029 …
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