Chancellor warns of 'economic emergency' in Spending Review as borrowing hits £394bn

Largest recorded borrowing level in peacetime

clock • 2 min read

Rishi Sunak has warned that the UK's "economic emergency has only just begun", as he revealed that the Office for Budget Responsibility (OBR) has forecast the economy will contract this year by 11.3% - the largest fall in output for more than 300 years.

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Markets

Market Movers blog: S&P 500 closes at record high as pressure on Fed increases

Market Movers blog: S&P 500 closes at record high as pressure on Fed increases

Latest news and analysis

Investment Week
clock 28 August 2025 • 1 min read
Low confidence keeping £137bn out of UK retail market

Low confidence keeping £137bn out of UK retail market

38% of respondents scared of financial loss

Patrick Brusnahan
clock 18 August 2025 • 2 min read
Investor confidence sinks worldwide as economic concerns prevail

Investor confidence sinks worldwide as economic concerns prevail

Double-digit drops in UK, Europe and Japan

Patrick Brusnahan
clock 12 August 2025 • 1 min read
Trustpilot