The Office for Budget Responsibility (OBR) has slashed its forecasts for real GDP growth next year but found that the UK's fiscal headroom will receive a £22bn boost from the Treasury's latest economic plans.
Real GDP growth of 1.5% in 2025, 0.5 percentage points faster than predicted in March, but a drop to 1.4% in 2026, 0.5 percentage points lower than expected. This is according to the OBR's Economic and fiscal outlook, accidentally released today (26 November) ahead of the Autumn Budget announcement by chancellor Rachel Reeves in an "unprecedented leak". The OBR swiftly took down the report after it appeared online this morning and said in a statement: "A link to our Economic and fiscal outlook document went live on our website too early this morning. It has been removed. "We apolog...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
