OBR Blunder of the Century: UK Borrowing £60 BILLION Higher
Than Predicted – Useless Forecasters Exposed as Rachel Reeves Squirms
Posted by Ken Frost – The Loanbuster – 27 May 2026
Blimey, what a complete and utter farce!
The Office for Budget Responsibility – those so-called “independent” fiscal geniuses who are supposed to keep the government honest – has cocked it up on an industrial scale yet again. Latest figures reveal UK public sector borrowing is running a staggering £60 BILLION higher than the OBR first forecast just months ago.
£60 billion! That’s not a rounding error. That’s real money. Your money. Taxpayer cash vanishing into the black hole of Labour incompetence while the OBR’s crystal ball merchants scratch their heads and mumble “whoops”.
Rachel Reeves is now under massive pressure as the Chancellor who promised fiscal responsibility is watching her borrowing forecasts explode like a cheap firework. The woman who lectured us all about “tough choices” and “fixing the books” is facing the brutal reality that her entire fiscal strategy was built on sand – and the OBR supplied the dodgy blueprints.
The OBR: Consistently Useless Since Day One
Let’s be crystal clear – this isn’t their first monumental cock-up. The OBR has form for being about as reliable as a chocolate teapot:
- Repeatedly underestimated borrowing under both parties
- Wildly optimistic growth forecasts that never materialise
- Failed to spot the impact of Reeves’s own tax raids and spending sprees
- Now missing £60 billion in a single update – that’s bigger than the entire defence budget
These people are paid handsomely from your taxes to get the numbers right. Instead they produce fantasy spreadsheets that bear no resemblance to reality. Why do we even bother with this quango? It’s nothing more than a fig leaf for whichever government is in power to pretend their plans add up.
The truth is simpler and uglier: Reeves’s £40bn+ tax tsunami, combined with rampant public sector bloat, green energy subsidies, and zero growth, was always going to send borrowing spiralling. The OBR just gave her false comfort and now the chickens are coming home to roost with a £60 billion vengeance.
Real people are paying the price — higher taxes, squeezed services, and a national debt mountain growing faster than ever. Meanwhile, the “independent” experts who got it so badly wrong will probably get another pay rise and a polite “lessons will be learned” memo.
This is what happens when you put political forecasters in charge of fiscal reality. The OBR isn’t independent – it’s institutionalised incompetence. And Reeves, who leaned on their forecasts to justify her raids, now looks completely exposed.
Time for heads to roll. The OBR should be scrapped or properly reformed, and Reeves should be considering her position. Again.
Britain deserves better than this endless cycle of fiscal fairy tales and expensive mistakes.
Amazon Suggested Reads – See Through the Fiscal Lies
- “Government by Fantasy” – how official forecasts fail Britain
- “The Debt Time Bomb” – surviving Labour’s borrowing binge
- “Taxed Into Oblivion” – the true cost of Reevesomics
Ken Frost
Professional Cynic, Chartered Accountant and relentless Loanbuster
www.kenfrost.net – exposing the economic charlatans since 2005
