Office for Budget Responsibility (#OBR), the Government's spending watchdog, has warned the supply of new housing will hit a new low of 215,000 next year, despite Labour's latest housing policies and plans!?
#HousingCrisis #LabourLies #UKLabour #SteveReedMP
#OBR
https://www.theguardian.com/politics/2025/dec/05/new-uk-child-poverty-strategy-pat-mcfadden-welfare-reform. "The Lord giveth & the Lord taketh away." But THIS (Labour) Lord is definitely NOT "blessed"! In fact, he hasn't got his head screwed on right, & is talking utter nonsense. It is simply not true that the "welfare" or social security budget is "spiralling out of control" - that is a complete myth, but the #Government & the #OBR don't want any of us to know that (https://www.disabilitynewsservice.com/watchdogs-silence-after-removing-figures-that-showed-social-security-spending-is-not-spiralling/), @ChrisMayLA6.
The chancellor would not need to go far - the nearest mirror (if she has a reflection) would provide a hint. The OBR leak on the day seems to have been a configuration problem with Wordpress, the weeks of floating’ policy to favoured newspapers and reporters too see what was acceptable was all down to her. Those toddlers in the maladministration need to learn that government by focus group is not a good idea.
The #OBR is saying that because inflation is high the government will getting an extra £14bn in taxes.
But here's the thing.
If I have £100, and I spend all of that £100 on the things I need, and then the things I need become more expensive, but I still only have £100 to spend, I can't spend more on things just because they cost more.
Report of investigation into the November 2025 Economic and fiscal outlook publication error
https://obr.uk/docs/dlm_uploads/01122025-Investigation-into-November-2025-EFO-publication-error.pdf
It's the top news of the day in the UK and people are wondering why any of this matters to their lives, the media seem fascinated by the story, but nobody else is.
Richard Hughes steps down as OBR chair after taking responsibility for the premature release of the UK budget report, raising concerns over fiscal transparency.
#YonhapInfomax #RichardHughes #OBR #Resignation #BudgetReport #Leak #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=93384
Hilarious: the Office of Budget Responsibility says its worst failure in its fifteen year history was to prematurely (40 mins early) publish online its forecasts ahead of the Autumn Budget...
No, the greatest failure in the last 15 years has been the continued & repeated over-estimate of productivity growth & the subsequent correction, before (again) over-estimating its growth for the next cycle... now that *really* is a failure!
WordPress plugin quirk resulted in UK Gov OBR Budget leak [pdf]
https://obr.uk/docs/dlm_uploads/01122025-Investigation-into-November-2025-EFO-publication-error.pdf
#HackerNews #WordPress #BudgetLeak #UKGov #OBR #PluginError #Cybersecurity
The #OBR report on Budget-gate really does make grim reading. Schoolboy errors all round, and clearly a lot of people having no idea how #WordPress actually works.
https://obr.uk/docs/dlm_uploads/01122025-Investigation-into-November-2025-EFO-publication-error.pdf
The cause of the #UK Budget #OBR leak is hilariously bad, journalists just updated the link and kept hitting it until it worked.
Graeme Bandeira @GraemeBandeira on #RachelReeves #OBR #Budget @NorthernAgenda – political cartoon gallery in London original-political-cartoon
No need to apologise for the disclosure, #OBR.
Details of the #Budget were circulating weeks before yesterday's announcement.
Colanders are watertight compared with the Treasury.
https://www.theguardian.com/business/2025/nov/27/obr-budget-leak-cybersecurity-investigate
Budget 2025: New pension savings tax could cost workers more, experts warn
Workers could end up paying more to save for their retirement after the Chancellor confirmed a new pension savings tax in the Autumn Budget. From April 2029, anyone putting more than £2,000 a year into their pension through salary sacrifice will have to pay National Insurance contributions on the extra amount. National Insurance is the tax that funds state pensions and benefits, meaning workers will see less take‑home pay if they save above the cap.
The Treasury says the measure is designed to raise money as part of wider tax reforms. But pensions experts, consumer groups and campaigners warn it risks discouraging people from saving at a time when many households are already struggling with rising costs.
“Unpopular and disincentivising”
Salary sacrifice has been one of the simplest ways for workers to boost their pension pots, with both employees and employers saving on National Insurance.
Maike Currie, VP Personal Finance at PensionBee, said the change could undermine confidence in workplace pensions:
“Salary sacrifice is one of the most efficient ways for employees to save more for their future. Limiting the amount that can be contributed in this way is an unpopular move, disincentivising companies who provide workplace pensions and sending the wrong message to millions of basic rate taxpayers trying to save.”
Currie added that the government’s decision comes at a time when households are already under pressure, and that confidence in long‑term saving is vital to meeting retirement needs.
Industry and consumer concerns
Other industry figures echoed those concerns. Richard Knight, head of pensions at Burges Salmon, said the change “will hit employees who are trying to save responsibly” and adds complexity for employers, particularly smaller businesses.
Pensions UK, a national advocacy group, warned the cap could worsen Britain’s retirement savings gap. Executive Director Zoe Alexander said:
“Over half of savers are already on course to fall short of retirement income targets. Adding new costs to salary sacrifice risks widening that gap.”
Consumer campaigners pointed out that while the state pension will rise by 4.8% next April, frozen tax thresholds until 2031 mean more workers will be dragged into higher bands, reducing take‑home pay and pension affordability.
Treasury forecasts and government aims
The government argues the pension savings tax is necessary to protect revenues as more people use salary sacrifice to boost their pensions. The Office for Budget Responsibility (OBR) estimates the change will raise around £4.7 billion by 2031, money the Treasury says will help fund public services.
But analysts describe it as a “stealth tax,” warning that the measure will not only affect higher earners but also ordinary workers who try to save more than the £2,000 limit. Employers, too, will face higher National Insurance bills, reducing the incentive to offer generous workplace schemes. Critics say this risks undermining the very system designed to encourage long‑term saving.
What it means for savers
For employees, the change means salary sacrifice will remain in place, but its benefits will be capped. Anyone saving more than £2,000 a year through this route will see extra National Insurance taken from their pay packet, leaving them with less money each month.
Campaigners warn this could discourage workers from putting aside more for retirement, widening Britain’s savings gap. With Britain already facing a shortfall in pension provision, experts say stability and clear incentives are essential if the government wants people to keep saving for the future.
Related stories from Swansea Bay News
Autumn Budget 2025: Westminster leak, Welsh impact
Rachel Reeves’s Budget was overshadowed by an OBR leak and fierce Commons clashes — here’s what it means for Wales.
Autumn Budget 2025: Welsh parties clash over Reeves’s plans
Labour hails child poverty measures, Plaid warns Wales is shortchanged, Conservatives call it a “circus,” Reform and Lib Dems add criticism.
Autumn Budget 2025: What more than 100 possible tax changes could mean for South West Wales
From income tax rises to energy bill shifts, we break down how Budget reforms could affect households and businesses locally.
Tractors roll into Westminster as farmers protest Budget’s “family farm tax”
Farmers drove tractors into Westminster to protest inheritance tax reforms, warning of lasting damage to Welsh family farms.
#autumnBudget2025 #budget #money #nationalInsurance #ni #nic #obr #officeForBudgetResponsibility #pensionSaving #pensions #rachelReevesBudget #rachelReevesMp #salarySacrifice #savings #ukBudget2025
Wondering whether the #OBR cock-up was deliberate, so that this news about #TrialByJury being massively curtailed would slide under the radar? #Justice #Jurisprudence #FairTrial
Link to Independent.co.uk:
The UK OBR has lowered its 2026 GDP growth forecast to 1.4% and raised its inflation outlook, while fiscal headroom rises to £22 billion, surpassing market expectations.
#YonhapInfomax #OBR #UKGrowthForecast #Inflation #FiscalHeadroom #TaxIncrease #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=92653
Autumn Budget 2025: Westminster leak, Welsh impact
A Budget delivered in chaos
Rachel Reeves rose to deliver her Autumn Budget in the Commons — but the drama had already begun. The Office for Budget Responsibility (OBR) had accidentally published its forecasts online 40 minutes before she spoke, leaving MPs scrolling through graphs on their phones as the Chancellor tried to set out her plans. Treasury minister Torsten Bell, the newly‑elected MP for Swansea West, was seen passing his mobile to Reeves as she scribbled notes onto her speech.
BBC economics editor Faisal Islam called the leak “wild,” describing it as “history of the wrong sort” and noting that all the market‑critical fiscal numbers were out in the open before Reeves even stood up.
The deputy speaker, Nusrat Ghani, had already admonished ministers for the sheer volume of leaks and pre‑announcements surrounding the Budget, suggesting the government may have breached the ministerial code even before the OBR error.
Conservative leader Kemi Badenoch seized on the chaos, branding the whole episode a “circus” and accusing Reeves of becoming “the first chancellor to release the whole Budget ahead of time.”
The OBR has promised to explain how the mistake happened at a press conference later in the afternoon, where officials are expected to face tough questions about why their report was published before the Budget was even public.
Tax thresholds frozen until 2031
After the drama over leaks, Reeves confirmed one of the most contentious measures: income tax and National Insurance thresholds will remain frozen until 2031. “I know that maintaining these thresholds is a decision that will affect working people,” she told MPs. The OBR estimates 780,000 more people will be pulled into paying income tax by 2029–30. Badenoch accused her of breaking promises, saying Reeves had “sworn last year it was a one‑off.”
Families see benefit cap scrapped
In contrast, Reeves announced the scrapping of the two‑child benefit cap from April 2026, saying every child “deserves an equal chance.” Welsh Labour highlighted that 69,000 children in Wales will benefit, with First Minister Eluned Morgan welcoming the change as a step to tackle child poverty.
Pensions and savings face new limits
Turning to pensions, Reeves said she would cap salary sacrifice contributions at £2,000 from 2029, describing it as a “pragmatic step.” PensionBee warned the change “punishes hard‑working savers” and risks discouraging employers from supporting workplace schemes.
Savings products were also reshaped. From 2027, under‑65s will only be able to put £12,000 into cash ISAs, with the rest reserved for investments. Over‑65s will retain the full £20,000 cash allowance. Industry experts criticised the move as “needless complexity” that could penalise groups who rely more heavily on cash savings.
Motoring and property charges
Drivers will face new costs too. Electric vehicles will be subject to a mileage‑based excise duty from 2028 — 3p per mile for battery cars and 1.5p for plug‑in hybrids. Disabled drivers using the Motability scheme will find luxury models removed, with Reeves saying the scheme must return “to its original purpose.”
Property owners at the top end of the market will also pay more. From 2028, homes worth over £2m will face an annual charge of £2,500, rising to £7,500 for those above £5m. Reeves said the measure would raise £400m by 2031 and affect fewer than 1% of properties.
Energy bills, gambling and devolved funding
Household energy bills will fall by around £150 from April as green levies are scrapped. Gambling taxes will rise sharply, with remote gaming duty increasing from 21% to 40% and online betting duty from 15% to 25%. Bingo duty will be abolished from 2026.
Wales will receive an additional £505m in Barnett consequentials and £425m in fiscal flexibilities, giving the Welsh Government almost £1bn in extra spending power. Ministers in Cardiff will decide how to allocate this funding across health, education and infrastructure.
What happens next
The immediate changes — higher minimum wages, pension uprating, and the end of the two‑child cap — will be felt from April 2026. ISA reforms and energy bill savings arrive in 2027, while the mansion tax and EV mileage duty begin in 2028. The salary sacrifice cap takes effect in 2029, and tax thresholds remain frozen until 2031.
For households in South West Wales, the Budget brings both near‑term changes to pay packets and benefits, and longer‑term reforms to pensions, savings and motoring costs. England‑only measures such as rail fare and prescription freezes will not apply, with the Welsh Government deciding how to spend its share of the additional funding.
#autumnBudget2025 #budget #hmTreasury #houseOfCommons #money #obr #officeOfBudgetResponsibility #rachelReeves #rachelReevesBudget #rachelReevesMp #ukGovernment #ukParliament
The words "piss-up" and "brewery" spring to mind!
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