Unemployment to jump to 5.3% as UK economy faces slower growth, says OBR

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UK gross domestic product (GDP) is expected to grow by 1.1% in 2026, as the OBR cut its previous prediction of 1.4% from last November.

The Chancellor said economic growth was downgraded for 2026 (House of Commons/UK Parliament/PA) - (House of Commons/UK Parliament) — image source: static.independent.co.uk

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The Chancellor said economic growth was downgraded for 2026 (House of Commons/UK Parliament/PA) - (House of Commons/UK Parliament) — image source: static.independent.co.uk

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