POLL: Should Rachel Reeves resign after latest Budget nightmare? | Politics | News
Economists fear cutting OBR growth forecasts could force Rachel Reeves to introduce a £20-30bn tax increase in Wednesday’s Autumn Budget; so today Express readers are asking the question: If he resigns, should he resign? The Office for Budget Responsibility (OBR) will cut its economic growth forecasts for 2026 and the rest of the parliament when the Chancellor makes his announcement on Wednesday, according to Sky News.
The weak outlook, driven by softer growth, rising debt costs and a productivity decline of around 0.3 percentage points, is expected to leave a £20-30bn gap in the public finances, which Ms Reeves said would likely be plugged by tax increases, including potential rises in income tax. The UK economy has been growing at an annual average of around 1.5% since mid-2024, with gross domestic product (GDP) growth slowing through 2025.
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Although GDP is 5.3% higher than before the COVID-19 pandemic, per capita GDP is only 0.8% higher over the same period, according to the Commons Library. This is partly due to weakness in consumer spending.
Inflation rose from a low of 1.7% in September 2024 to 3.6% in October 2025; This is well above the Bank of England’s 2% target.
Speaking on BBC Breakfast on Monday, Economy Minister Peter Kyle insisted that “things are looking up in our country” and that the Government was “investing in public services” while “laying the foundations for economic growth” to break the “cycle of high taxes and low growth”.
