The Chancellor Rachel Reeves' Budget has been branded "disastrous" after research claimed it could add over £1,000 to a middle-class family's mortgage. Fiscal watchdog the Office of Budget Responsibility (OBR) have re-evaluated their forecast for mortgage rates for the first quarter of 2025, increasing their assessment of rates from 3.8% to 3.9%.

Shadow chancellor criticises the Budget as ‘unfit for purpose’ as middle-class families face an extra £3,500 on their mortgage renewal costs

Early indications that chancellor will slash disability benefits and delay increases to the defence budget to the 2030s to avoid breaking borrowing rules