There is perhaps no document more useful for understanding the state of the nation than the Office for Budget Responsibility’s ‘Economic and Fiscal Outlook’. The 180-page document, released as soon as the Chancellor sits down after a Budget or financial statement, can not only seal the fate of a government but also tell us where the country is heading.
Today was no exception. The OBR’s outlook was filled with bombshell after bombshell. Here are five of the most shocking findings in the report:
1. The OBR’s housing forecasts suggest Labour is nowhere near to achieving its target of building 1.5 million new homes in this parliament – which Rachel Reeves already downgraded to 1.3 million today. Even in the OBR’s most optimistic scenario for house building, it says only 1.2 million homes will be built from 2024 to 2029.
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