Treasury confirms probe into OBR leak ahead of Spring Forecast

Treasury permanent secretary James Bowler

The Treasury confirmed it has launched an inquiry into reports that data sent by the Office for Budget Responsibility (OBR) to Chancellor Rachel Reeves last week has been leaked.

The confidential dossier – which was sent to Reeves ahead of the Spring Forecast on 26 March – was said to disclose the OBR downgrading its growth forecast for the UK, Bloomberg reported on Tuesday (11 February). The downgrade would have major implications for Reeves, as it would mean her department's near £10bn buffer has been wiped out and the government may be forced to make spending cuts or potentially hike taxes. UK economy beats expectations and grows 0.1% in final quarter of 2024 Last October, Reeves changed the UK's current fiscal rules to facilitate more borrowing for inve...