The Office for Budget Responsibility (OBR) said the potential for damaging events such as a global stock market crash or future pandemic to knock the government's finances off course remained high, even while the chancellor increased her headroom from 9.9bn to 22bn. After a wide-ranging review of the UK's economic health stretching back to the 2008 financial crash, the OBR also said the economy would grow at a slower rate over the next five years than previously estimated.
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging. At such a critical moment in US history, we need reporters on the ground.
Rail fares in England will not be increased in 2026, the government has announced, surprising passengers with the first fare freeze in 30 years. The chancellor, Rachel Reeves, will confirm a freeze on fares in this week's budget, a move designed to limit inflation, ease the cost of living and support economic growth. Reeves and the prime minister, Keir Starmer, are hoping that measures such as freezing train fares and a package of support for energy bills will help mitigate the political fallout of several expected tax increases.
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
The budget is still a month away and speculation about its contents is already in full swing. Details of what Rachel Reeves has planned will dribble out over the coming weeks, but two things are certain: taxes are going up, and they are going up by a significant amount. Obviously, the chancellor would prefer not to be in this position.
