Britain can defy gloomy economic forecasts, says Rachel Reeves

<p>Exclusive: Fiscal watchdog predicts productivity downgrade will leave chancellor with £20bn gap to fill in budget</p><ul><li><p><a href="https://www.theguardian.com/commentisfree/2025/oct/28/rachel-reeves-autumn-budget-labour-forecasts-britain">Too many want to do Britain down – Labour will defy the doomsayers and beat the forecasts</a></p></li></ul><p>Rachel Reeves has said Britain can defy gloomy economic forecasts after the fiscal watchdog infuriated ministers by predicting a productivity downgrade would leave her with a £20bn gap to fill in her forthcoming budget.</p><p>The chancellor said she was “determined not to simply accept the forecasts” – which increase the likelihood she will break a key Labour manifesto pledge not to raise income tax – but would instead prove the predictions wrong.</p> <a href="https://www.theguardian.com/politics/2025/oct/28/britain-can-defy-gloomy-economic-forecasts-says-rachel-reeves">Continue reading...</a>