News

The UK Office for Budget Responsibility says that if fuel taxes remain unchanged, the fiscal surplus will be £10.2 billion.

The UK Office for Budget Responsibility says the cumulative cost of the fuel tax freeze and the 5p/liter fuel tax cut has risen to £139 billion.

The UK Office for Budget Responsibility (OBC) projects inflation at 3.5% in 2027 (up from 2% in March); inflation is expected to peak at 3.75% in early 2027.

The UK Office for Budget Responsibility: The budget plan slows down the pace of recent reforms compared to previous plans.

The UK Office for Budget Responsibility says the probability of achieving fiscal targets is now 56%, down from 59% in the 2025 budget.

The UK Office for Budget Responsibility stated that if energy prices return to the path predicted in March, inflation is expected to fall more quickly, near-term GDP growth will be stronger, and financial conditions may ease.

The UK Office for Budget Responsibility stated that if energy prices peak at higher levels and remain high for an extended period, we expect inflation to rise, near-term GDP growth to weaken, and financial conditions to tighten.

The UK Office for Budget Responsibility says that if productivity growth is 0.5 percentage points higher or lower than forecast, borrowing could decrease by £50 billion or increase by £40 billion.

The Dow Jones Industrial Average opened 41.97 points higher, or 0.08%, at 52,419.54 on Wednesday, October 28; the Nasdaq Composite Index opened 80.31 points higher, or 0.30%, at 26,558.13; and the S&P 500 Index opened 18.41 points higher, or 0.24%, at 7,741.01.

The UK plans to sell £250.6 billion in government bonds in the 2026-27 fiscal year; the market expectation is £249.2 billion.

The UK Debt Management Authority (DMO) will launch its first 12-month short-term Treasury bill in January 2027.

British Chancellor of the Exchequer Healy: There is breathing room now, and new hope for the future.

British Chancellor of the Exchequer Healy: Today’s decision will help guide Britain through this difficult time.

Shares of Vistry Group, a major British homebuilder, surged 5% after Chancellor of the Exchequer Healy pledged support for social housing construction.

British Chancellor of the Exchequer Healy: New schemes will be launched for first-time homebuyers starting in the spring.

UK Chancellor of the Exchequer Healy: First-time homebuyers’ personal savings accounts will replace lifelong personal savings accounts.

British Chancellor of the Exchequer Healy: All land sold to social housing providers will be exempt from capital gains tax.

UK Chancellor of the Exchequer Healy: An additional £1.5 billion will be provided for social and affordable housing schemes.

UK Chancellor of the Exchequer Healy: The goal is to achieve 3% of GDP in defense spending by 2030. A defense finance working group has been launched. Defense treaty negotiations will begin with Finland, Poland, and the Netherlands.

British Chancellor of the Exchequer Healy: Will clarify how to fulfill NATO defense commitments.