OBR defends growth forecast leak as MPs question lack of tariff references in outlook

UK growth expectations slashed to 1%

Richard Hughes, chair of the Office for Budget Responsibility (OBR), has defended the UK forecaster's role in the February leak to Bloomberg, when its growth outlook for the UK was disclosed to the public.

Speaking before the Treasury Committee today (1 April), Hughes said he was unable to determine whether this was a leak or "well-informed speculation", adding that the OBR was not the "source of this information" following "proportionate inquiries" into the incident. Spring Statement 25: OBR halves UK growth forecast to 1% for 2025 "The OBR takes the security of its forecasts very seriously," Hughes said. "It is very important for us that our preliminary forecasts are only received by the government." He added that in its 15-year history, the UK's economic forecaster has never leake...