UK Fiscal Watchdog Sees Little Room For Tax Cuts in March Budget

The UK’s fiscal watchdog has affirmed internal Treasury analysis that warned Chancellor of the Exchequer Jeremy Hunt may have limited money for tax cuts at the upcoming budget, according to a person familiar with the matter.

The Office for Budget Responsibility delivered its first “fiscal outlook” to the chancellor on Tuesday evening, arriving at a figure very similar to the £14 billion ($17.8 billion) of headroom estimated by Treasury, the person said.