Spring Statement 2025: ‘Very small’ headroom risks getting erased again, OBR warns

The Office for Budget Responsibility (OBR) has warned that Chancellor Rachel Reeves’ “very small” fiscal headroom risks being eliminated again.  The Chancellor had previously set herself £9.9bn of headroom in the Autumn Budget.  But the OBR said the UK was in fact heading for a deficit of £4.4bn, forcing the Chancellor to make spending cuts [...]