The UK economy is projected to grow at a slower rate than previously anticipated starting next year, according to the Office for Budget Responsibility (OBR). While growth expectations for this year were increased, the forecast for the subsequent four years has been downgraded, primarily due to lower productivity growth.

• The OBR now predicts the economy will expand by 1.5% this year, but lowered its growth estimates to 1.4% in 2026 and 1.5% for the following four years.
• Chancellor Rachel Reeves acknowledged the downgraded forecasts but stated the government would "beat them again" through economic building efforts.
• The tax burden on the economy is expected to hit record levels by the end of the parliament, increasing by £26 billion by the 2029-30 financial year, while public spending will also increase by £11 billion in the same period.