Key facts
- Net migration figures for the year to June 2023 were revised from 672,000 to 906,000.
- The Labour Force Survey (LFS) may have missed 1 million workers between 2019 and 2024.
- The OBR estimates a one in five chance of 2027 inflation exceeding 4.5% or falling below 2.5%.
- Over 2.2 million pupils in England are recorded as receiving free school meals.
- The budget allocated £432 million to address homelessness.
Chancellor John Healey's recent budget relied on economic figures that are likely inaccurate, according to a POLITICO analysis. Experts highlighted significant doubts about the data used for key metrics like immigration, unemployment, inflation, and GDP, suggesting policy decisions may be based on flawed information. The analysis, featured in the Westminster Insider podcast, pointed to historical errors in migration counts and the unreliability of the Labour Force Survey. These inaccuracies can have knock-on effects on projections for inflation and economic growth, potentially leading to misguided policy responses.