OBR Warns of Extra £40 Billion Tax Rises, Though It’s Not the Tories’ Fault mdi-fullscreen
If co-conspirators thought it couldn’t get any gloomier listening to Labour’s constant rhetoric of ‘we will be unpopular and the next few years will be hard,’ they haven’t seen the Office for Budget Responsibility’s latest doomsday warning. The quango has said British families face an additional £40 billion of tax rises or spending cuts every decade to avoid a “spiral” of public debt, as public finances are on an “unsustainable path.” Ever the optimists…

Still, if Labour wanted to point to the inheritance from the Tories (yet again), they might find it tricky, as OBR chairman Richard Hughes rejected the claim. Hughes pointed to an ageing population, surging debt interest, and the shift to net zero as the main factors for the dire outlook. A reminder that Labour has already dug its own black hole, adding £9 billion to it through increased public sector pay rises and pushing forward with their costly GB Energy climate crusade. It won’t make happy reading for the Chancellor, though the OBR has a record of being wrong more often than not…
mdi-tag-outline OBR Office for Budget Responsibility Tax Rises
mdi-account-multiple-outline Rachel Reeves Richard Hughes
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