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Based on current forecasts from the Bank of England and the independent Office for Responsibility (OBR), the aim to halve inflation this year should be achievable.
Source: https://www.bbc.co.uk/news/uk-politics-64162849?at_medium=RSS&at_campaign=KARANGA
It comes after the former chancellor, Kwasi Kwarteng, and former prime minister Liz Truss came under fire after failing to work with the OBR on an assessment ahead of their mini-budget announcement that caused an economic fallout last autumn.
Ms Guy said: "Red hot inflation is expected to cool in 2024, with the OBR predicting it will drop to around two percent by the end of 2024.”
Source: https://www.birminghammail.co.uk/news/cost-of-living/six-dwp-pension-rule-changes-28278490
The chairman of the Office for Budget Responsibility (OBR) has suggested the Government’s Budget last week was “responsible” but hinted that “fiscal smoke and mirrors” may have been used to meet fiscal requirements.
The Chancellor has commissioned the Office for Budget Responsibility (OBR) to prepare an economic and fiscal forecast to be presented to Parliament alongside the spring budget, described by the Liberal Democrats as a “last throw of the dice”.
The drop in real household disposable income would represent "the largest two-year fall in living standards since records began in the 1950s," Richard Hughes, chairman of the OBR, said.
Source: https://www.bbc.co.uk/news/business-64963869?at_medium=RSS&at_campaign=KARANGA
The forecaster, the Office for Budget Responsibility (OBR), was commenting following its report earlier this week pointing to faces growing costs from an ageing society.
Source: https://www.bbc.co.uk/news/business-66199176?at_medium=RSS&at_campaign=KARANGA