OBR slashes UK growth forecast for 2027 despite Healey’s budget measures

Outlook for living standards also downgraded as part of impact of Middle East conflict on economy Healey offers £100 payment to households to help navigate ‘global economic storms’ Budget 2026: key points at a glance Budget 2026 live – latest updates Britain’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…