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flag UK's budget watchdog admits overoptimistic growth forecasts, potentially costing billions.

flag The UK's budget watchdog, the Office for Budget Responsibility (OBR), admitted to being overly optimistic about the country's economic growth, overestimating by 0.7 percentage points annually over five years. flag This could lead to a downgrade in forecasts, complicating Finance Minister Rachel Reeves' budget plans. flag The potential reduction could cost the public finances between 9 and 18 billion pounds annually.

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