What we have learnt from the Budget after OBR document is published early
- The Office for Budget Responsibility (OBR) has accidentally published its economic and fiscal document before Chancellor Rachel Reeves' Budget.
- Rachel Reeves' Budget will extend the freeze on personal tax thresholds until 2030-31, projected to create 1.7 million new income tax payers by 2029/30.
- The two-child benefit cap is being removed, which the OBR estimates will cost £3 billion by 2029-30.
- The 5p cut in fuel duty will be retained until September 2026, before being reversed through a staggered approach.
- A new high-value council tax surcharge on properties worth over £2 million – dubbed the Mansion Tax – is indicated, expected to raise £0.4 billion.