Author: britishbulletin.com

The Office for Budget Responsibility (OBR) has downgraded gross domestic product (GDP) growth to 1.1 per cent, down from a 1.4 per cent projection, in a blow to Chancellor Rachel Reeves’s plan to revitialise the British economy.As well as this, the UK’s fiscal watchdog has pojected UK public sector borrowing is projected to ease, and inflation will fall to in 2026.Furthermore, the OBR forecasts GDP growth will jump to 1.6 per cent in 2027, up from last year’s forecasts, and remain at this level the following year.Speaking to the House of Commons, the Chancellor provided a fiscal update on the…

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