Chancellor’s statement comes amid backdrop of economic and geopolitical turmoil, including gas prices at three-year high
Rachel Reeves’s plans could be hit by Middle East conflict, say economists
Onto growth, and Reeves says the OBR has “adjusted the profile of GDP” so that it grows slightly slower in 2026 and then faster in both 2027 and 2028.
Here are the new forecasts:
2026: growth of 1.1%, down from 1.4% growth forecast in November
