Summary
The Office for Budget Responsibility (OBR) apologized for accidentally releasing its economic forecast before the official UK Budget announcement. The premature release included details like the end of a two-child benefit cap and changes to taxes. The OBR is investigating how this leak happened.
Key Facts
- The OBR accidentally published its Budget details about 40 minutes early due to a "technical error."
- The details are usually kept secret until the chancellor's official announcement because they can influence financial markets.
- The leaked document included measures like ending the two-child benefit cap and continuing income tax threshold freezes.
- The OBR removed the document quickly and is investigating the incident.
- OBR chair Richard Hughes apologized and said he would ensure it doesn't happen again.
- The leak caused a stir in the House of Commons and on social media, with calls for an investigation.
- Past instances include a similar leak by the Evening Standard in 2013.
- There was a brief market impact with volatility in UK bonds, but the situation stabilized.
