OBR warns Reeves’s budget still leaves public finances in ‘vulnerable’ position

Damaging events could knock finances off course, says Treasury’s independent forecaster as it downgrades growth outlookReeves says budget will cut living costs after shock OBR leakBudget 2025: key points at a glanceThe Treasury’s independent forecaster has warned that Rachel Reeves’s tax-raising budget will still leave the public finances in a “vulnerable” position despite her more than doubling the UK’s financial buffer.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. Continue reading...