Budget 26: OBR downgrades IPT forecast

The OBR now predicts that the taxation will raise £57.6bn between 2025/26 and 2030/31. This is a £0.2bn downgrade from estimates made following the Spring Statement in March, where it predicted a £57.8bn haul over the next five years. The revised figure represents a £0.5bn increase compared to the forecast delivered in the Autumn Budget in 2025. IPT receipts hit £4.53bn in the first half (H1) of the 2026/2027 financial year, according to HMRC data. Cara Spinks, head of life and health, Broadstone, said: "While the chancellor has spoken about easing pressure on the NHS and suppor...