Nightmare for Rachel Reeves as OBR deals huge budget blow with UK growth on its knees | Personal Finance | Finance

The UK’s fiscal watchdog is set to slash its economic growth forecasts for 2026 and the rest of parliament when Rachel Reeves delivers Wednesday’s Budget.

The Office for Budget Responsibility’s (OBR) numbers shape every major Budget call. The Chancellor is expected to turn to tax hikes to plug a £20-30billion hit to public finances from the OBR’s weaker growth outlook, driven by factors such as softer growth and rising debt costs, Sky News reported on Monday.

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