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 standards, and the public finances despite the measures taken by the chancellor.
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World Bank forecasts 23% commodity price rise as energy and shipping shocks mount
The bank projects higher energy, metals and food prices in 2026, with further risks from conflict, disrupted grain shipments and El Niño.
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The GuardianSource headline and summary supplied via NewsData.io. First collected by NewsJaws on 2026-10-29. This is an automated news brief, not original NewsJaws reporting. Dates reflect the source publication. Feed delays may apply.