Bbc News 2025 Budget Predictions

Bbc News 2025 Budget Predictions. Budget Passed 2025 Deny Rosamund These initial out-turns are provisional - in particular, the picture on self-assessment revenues may look less grim once February data (which always contain some stragglers who pay their tax slightly after the end-of-January. UK interest rates will fall more slowly than expected over the next two years due to October's Budget, according to an influential think tank's forecasts

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Source: Office for Budget Responsibility, Economic and Fiscal Outlook, March and October 2024; Office for National Statistics, Public Sector Finances, UK, January 2025 However, mortgage costs have been rising after the central bank also said that future interest rate cuts may not.

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Last month, the Bank of England cut rates for the second time this year to 4.75%. The government's official forecaster raises its prediction for UK growth in 2024 and 2025 but reduces it for later years. Source: Office for Budget Responsibility, Economic and Fiscal Outlook, March and October 2024; Office for National Statistics, Public Sector Finances, UK, January 2025

2025 Budget Live Updates William Bower. However, mortgage costs have been rising after the central bank also said that future interest rate cuts may not. Sources said "the world has changed" since Rachel Reeves's Budget last October, when the OBR indicated she had £9.9bn available to spend against her self-imposed borrowing rules.

Bbc 2025 Agace Ingeberg. Chancellor Rachel Reeves will present her Spring Statement on 26 March 2025 However, an overhaul in business rates is expected in 2026/27, with two permanent lower rates for leisure.