Labour: Empower OBR to avoid repeat of Truss mini-budget

Labour has proposed new plans to ensure ministers are legally bound to consult the Office for Budget Responsibility on major tax and spending changes, to prevent a recurrence of Liz Truss and Kwasi Kwarteng’s ill-fated mini-budget.

Shadow Financial Secretary to the Treasury James Murray said: “Never again should a prime minister and a chancellor be able to play fast and loose with the public finances, causing such damage to the economy and to household budgets.” Report by Buseld.

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