Spring Statement 2025

As Chancellor Rachel Reeves takes to the despatch box today to deliver the 2025 Spring Budget, all eyes are on the government’s fiscal plans in the run-up to a likely general election. With the cost of living still front of mind for millions, and pressure mounting to deliver tax cuts and investment in public services, this Budget could set the tone for the months ahead.

We’ll be updating this article live as the announcements unfold

Reeves confirms no tax rises

Rachel Reeves has confirmed there will be no further tax rises at today’s spring statement, but has promised to go further to crack down on tax avoidance.

Fixing the economy has come with a £14 billion price tag.

Rachel Reeves has disclosed that since her Budget last October, efforts to stabilise the government’s finances have cost £14 billion.

National Insurance changes expected to affect jobs and inflation

“It’s disappointing that Ms Reeves seems to think her policies are creating the foundation for economic growth and protecting British workers,” he said. “In reality, the employer NIC increase coming next week is likely to drive up both unemployment and inflation—effectively taxing ordinary workers.”