OBR Set to Downgrade UK's Economic Growth Forecast

The Office for Budget Responsibility will lower its economic growth forecast for 2026 and beyond. This comes as finance minister Rachel Reeves prepares to present the budget on Wednesday, according to Sky News. The OBR serves as an independent fiscal watchdog in the UK.

Britain's fiscal watchdog, the Office for Budget Responsibility (OBR), is reportedly poised to revise down its forecast for economic growth in 2026 and for the subsequent years of the current parliament.

Sky News has reported that this adjustment will coincide with finance minister Rachel Reeves' budget announcement scheduled for Wednesday.

The OBR operates as an independent authority, tasked with providing unbiased analysis of the UK's public finances.

(With inputs from agencies.)