The economic projections that underpinned the Office for Budget Responsibility’s (OBR) forecasts for the Spring Statement today (3 March) are at risk of aging very quickly, according to economists, as conflict in the Middle East intensifies.
Although chancellor Rachel Reeves emphasised her commitment to creating economic stability, she had very little to share outside of the OBR's latest forecasts, said Mark Preskett, senior portfolio manager at Morningstar Wealth. He explained the forecasts "corroborated the economic consensus that growth was steady and inflation had stabilised", but "crucially the OBR projections do not take into the account any further instability in the Middle East". Most of the projections were handed to the Treasury on 14 January 2026, the OBR explained. Central forecasts lay in the middle of a wide...
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