Spring Statement 2025: UK economic growth forecasts halve to 1%
OBR cuts GDP expectations amid elevated global uncertainty
Office for Budget Responsibility
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Autumn Budget 2024: CPI inflation to average 2.5% in 2024
Will tick up to 2.6% in 2025, but fall to 2% by 2029
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Higher-than-expected UK borrowing could spoil chance for pre-election tax cut
Government borrowing was £6.6bn above target, giving the Chancellor less room for tax cuts
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Spring Budget 2024: Inflation to fall faster than expected but debt-to-GDP disappoints
Net debt for the 2024-25 financial year will stand at 91.7% of GDP – ten basis points higher than expected