Opening her Budget statement, Rachel Reeves told the Commons: ‘It is my understanding that the Office for Budget Responsibility’s economic and financial outlook was released on their website before this statement’
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Autumn Budget: Reeves reacts to OBR’s early analysis release
Rachel Reeves has hit out at the Budget watchdog for an unprecedented leak of key details of the Budget.
A visibly furious Chancellor said it was clear there had been a “serious error” by the Office for Budget Responsibility, saying it was “deeply disappointing”. She emphasised to MPs that it was “their breach”, for which they have now taken responsibility.
Opening her Budget statement, she told the Commons: “It is my understanding that the Office for Budget Responsibility’s economic and financial outlook was released on their website before this statement.
“This is deeply disappointing and a serious error on their part. The Office for Budget Responsibility have already made a statement, taking full responsibility for their breach.”
The watchdog apologised for a “technical error” that had led to the accidental publication and said it has launched an investigation into how it happened.
The Chancellor, who was seen checking a phone as she sat on the frontbench during Prime Minister’s Questions, was due to announce the Budget to MPs at 12:30pm. But in an unprecedented turn, the Office for Budget Responsibility (OBR) accidentally released its economic and fiscal document – which includes the main measures in the Budget – before Ms Reeves’s speech.
Its document confirmed the Budget will raise taxes by amounts rising to £26billion in 2029-30. This will be through freezing personal tax thresholds for another three years until 2030-31 – despite Ms Reeves previously saying that extending the freeze would hurt working people – as well as a host of smaller measures. The OBR says this brings the tax take to an all-time high of 38% of GDP in 2030-31.
The document also confirms the two-child benefit limit will be scrapped from next April. It says: “The Government has removed the two-child limit within UC from April 2026… Its removal costs £2.3billion in 2026-27 and £3billion in 2029-30.”
In the document, the OBR increased its forecast for economic growth this year from 1% to 1.5% but downgraded its forecasts for the following four years. Ms Reeves later vowed to “beat the forecasts again”.
The OBR said in a statement: “A link to our economic and fiscal outlook document went live on our website too early this morning. It has been removed. We apologise for this technical error and have initiated an investigation into how this happened.
“We will be reporting to our oversight board, the Treasury, and the Commons Treasury Committee on how this happened, and we will make sure this does not happen again. Our economic and fiscal outlook and supporting documents will be released when the Chancellor has finished her speech.”
