The chancellor, Rachel Reeves, will deliver her “Spring Statement” to Parliament on 26 March 2025, following the publication of the latest Office for Budget Responsibility UK economic forecast and we have been told that it’s definitely not a budget, as we are only having one of those a year.
Whilst the publicity has been that there will not be any tax rises, but there is the possibility that tax allowances already frozen, will be frozen further. Tax allowances must be thinking when will this ice age end?
With benefit cuts of £5 billion announced this week and the ongoing uncertainties of the war in Ukraine and Donald Trump’s tariff merry go round it is difficult enough to make economic predictions.
So, if you want to ask me on the 27 March, I will then be able to tell you whether we had a Spring Statement or a Spring Budget!