On Wednesday 26 March, Chancellor Rachel Reeves held her first Spring Statement. Committing to a single “fiscal event” per year, the Chancellor used her Statement to provide an update on the government’s spending plans, accompanied by a fiscal forecast from the OBR.
We did not expect many significant tax changes or announcements in the Spring Statement, and from that perspective, it did not disappoint. Instead, pledging to secure Britain’s future and boost economic growth, the Chancellor announced a raft of spending measures that she says will boost the UK economy by 1.0% this year. The lack of tax announcements does however increase the spotlight on the changes announced in the Autumn Budget 2024, and turns the eye to ‘what’s next’.
Stay updated on all the developments with our tax and economic advisers, who look at the factors impacting the Chancellors decisions, the key measures announced, and how they are hoped to set the foundations for long-term sustainable growth.
Visit MHA’s Spring Statement 2025 Hub for the latest analysis and resources.
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