UK OBR Releases Economic Forecast Prior to Reeves’ Budget Address

The Office for Budget Responsibility (OBR) in the UK unexpectedly released its November 2025 Economic and Fiscal Outlook on Wednesday, just before Labour’s Budget address. This move has sparked criticism from notable political figures.

Controversy Surrounding the OBR Release

Kemi Badenoch, leader of the Conservative Party, publicly condemned the Labour government’s handling of the situation. She described the OBR’s premature publication as a “shambles.” This criticism was voiced during Prime Minister’s Questions, highlighting the tension in UK politics leading up to the budget announcement.

Details of the Economic Forecast

Typically, the OBR reveals its fiscal forecasts only after the finance minister’s speech. However, the report was uploaded to the OBR website and made available for download through an unprotected link, which was not advertised. This unusual timing has raised questions about the integrity of the budget process.

Market Reaction

Following the release of the OBR report, the British pound experienced a brief surge, while government bond prices also rose sharply. This indicates that investors and market participants reacted swiftly to the financial details revealed in the forecast.

Looking Ahead

As Rachel Reeves prepares to deliver the budget in the House of Commons, the implications of the OBR’s forecasts will be closely monitored. The document outlines key fiscal forecasts and assesses the potential impact of Reeves’ proposed tax and spending measures.

With the economic landscape continually evolving, how the Labour Party handles this situation may have lasting effects on public perception and financial stability.