Huge Task for Chancellor Rachel Reeves for upcoming Spring Statement

As Chancellor Rachel Reeves approaches the Spring Statement scheduled for March 26, 2025, she faces the challenging task of aligning fiscal policies with the UK’s economic realities. The Office for Budget Responsibility (OBR) is set to release its updated Economic and Fiscal Outlook on the same day, providing crucial insights into the nation’s financial health.

Key Considerations:

• Economic Growth: Recent forecasts suggest modest growth, with projections indicating a 0.8% increase for 2024 and 1.2% for 2025.

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• Inflation and Borrowing Costs: Persistent inflation and rising borrowing costs are straining public finances, necessitating careful fiscal management.

• Defense Sector Investments: The government is establishing an innovation hub to accelerate military technology deployment, aiming to bolster both defense capabilities and economic growth.

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• Workers’ Rights Reforms: Proposed changes to enhance workers’ rights, including introducing day-one employment rights and banning zero-hour contracts, are under scrutiny due to potential financial and operational impacts.

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Looking Ahead:

The Spring Statement will outline the government’s fiscal approach, addressing immediate challenges and setting the stage for future economic strategies. Stakeholders across sectors are awaiting details on potential tax adjustments, spending priorities, and policy reforms that will shape the UK’s economic landscape in the coming years.

For comprehensive coverage and updates, refer to the following sources:

• The Guardian: Cutting ‘waste’ or more tax: how Reeves could appease OBR in spring statement

• Reuters: UK sets up innovation hub to boost defense sector and growth

• The Times: Treasury raises fears over cost of workers’ rights bill

• Exchange Accountants: What to Expect from the 2025 Spring Budget

• Office for Budget Responsibility: March 2025 forecast timetable

• Bishop Fleming: Spring Statement 26 March 2025: more tax rises?

• Dods Political Intelligence: Explainer: 2025 Spring Forecast

• BDO: Spring Statement 2025

• Hargreaves Lansdown: Rachel Reeves’ Cash ISA rumours – what’s next in the Spring Statement?

• The Times: Spring Statement 2025: more tax rises?

• International Adviser: Rachel Reeves must ‘clear up uncertainty’ in UK Spring Statement

• Office for Budget Responsibility: Chancellor commissions Spring Forecast on 26 March 2025

• Office for Budget Responsibility: Economic and fiscal outlook – October 2024

• Mercia Group: Spring Statement 2025

• Policy Mogul: Chancellor commissions Spring Forecast on 26 March 2025

• Boring Money: What Tax Changes Could Rachel Reeves Announce

• Office for Budget Responsibility: March 2025 forecast timetable

• The Times: when is it and could Rachel Reeves announce tax rises?

• Dods Political Intelligence: Explainer: 2025 Spring Forecast

• International Adviser: Rachel Reeves must ‘clear up uncertainty’ in UK Spring Statement

• BDO: Spring Statement 2025

• Hargreaves Lansdown: Rachel Reeves’ Cash ISA rumours – what’s next in the Spring Statement?

• The Times: Spring Statement 2025: more tax rises?

• International Adviser: Rachel Reeves must ‘clear up uncertainty’ in UK Spring Statement

• [Office for Budget Responsibility: Chancellor commissions Spring Forecast on 26 March 2025](https://www.gov.uk/government/news/chancellor-commissions-spring-forecast-on-26-march-202