
Simon Pittaway
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Jul 20, 2026
New Prime Minister, old constraints: what can a ‘reset’ really deliver?
7:58
8:08
8:14
8:27

Simon PittawayGUEST
Um, and so we've done an exercise to update the OBR's latest forecast for things that have changed since then, and where that might leave this kind of magic number of headroom.

Simon PittawayGUEST
Um, and the things that have mainly gone on are on the growth and interest rate side.

Simon PittawayGUEST
So we've taken the Bank of England's middle scenario for the impact of the Iran war, and we've looked at what's happened to interest rates and financial markets, um, and a few other things going on as well, which we might get into.

Simon PittawayGUEST
But, um, altogether, that's hit, uh, the, the headroom buffer that they had of about 24 billion by 14 billion to leave them with an estimated buffer of about 10 billion, uh, which is not loads.
6 MINS LATER
