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Finance

UK OBR downgrades 2026 growth forecast to 1.4%

Published by Global Banking and Finance Review

Posted on December 8, 2025

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LONDON (Reuters) -Britain's economy is forecast to grow by 1.4% next year, according to estimates by the country's budget watchdog published on its website on Wednesday ahead of finance minister Rachel Reeves' budget statement.

The new figure compared with a growth forecast for 2026 of 1.9% in the OBR's previous outlook published in March, when finance minister Rachel Reeves delivered her spring statement.

The OBR expects economic output to expand by 1.5% in 2027, 2028, 2029, and 2030.

Those forecasts compared with the OBR's previous expectations for growth of 1.8%, 1.7% and 1.8% in 2027, 2028, and 2029 respectively.

Growth in 2025 was upgraded to 1.5%, up from the previous forecast of 1.0%.

(Reporting by David Milliken and Andy Bruce, writing by Suban Abdulla)

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