The UK’s 2027 growth forecast was slashed due to Middle East conflict impacts, prompting a £100 household payment to mitigate the resulting cost-of-living crisis.
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OBR outlook for living standards also downgraded as part of impact of Middle East conflict on economyHealey offers £100 payment to households to help navigate ‘global economic storms’Budget 2026: key points at a glanceBudget 2026 live – latest updatesBritain’s economy has taken a multibillion-pound hit as the war in the Middle East drags down growth and triggers a fresh cost of living crisis, according to the government’s independent forecaster.In a report as John Healey announced his first budget, the Office for Budget Responsibility (OBR) issued a sharp downgrade for growth, living standards and the public finances despite the measures taken by the chancellor. Continue reading...
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