Spring Statement 2025: Workers’ rights bill ‘net negative’ for economy, OBR says March 26, 2025 The government’s workers’ rights bill will “probably [have] net negative economic impacts”, the independent fiscal watchdog has said. Labour unveiled their workers’ rights package – the Employment Rights Bill – last year, and measures were hailed by unions as “common sense” reforms for a “fairer economy”. But according to the Office for Budget Responsibility (OBR), [...]
Spring Statement 2025: ‘Very small’ headroom risks getting erased again, OBR warns March 26, 2025 Rachel Reeves faces the prospect of her newly-restored fiscal headroom being wiped out again ahead of the Autumn budget, raising the spectre of fresh take hikes in the future as she battles sluggish growth and economic headwinds. The Chancellor had previously left herself £9.9bn of headroom but the OBR calculated the UK was in fact [...]
Spring Statement provides some relief, but probably not for long March 26, 2025 The Spring Statement offered some reasonably good news on growth, but the margin for error is incredibly slim and the chances of further painful tax rises in autumn are high, says Julian Jessop Not quite a non-event, but it could have been a lot worse. Rachel Reeves’ Spring Statement is unlikely to do any significant [...]
Spring Statement 2025: Businesses cautious on growth, expect further tax hikes March 26, 2025 Rachel Reeves may have ended her Spring Statement upbeat on long-term prospects after an upgrade from the Office of Budget Responsibility, but businesses don’t seem to be buying it. The Chancellor announced that the OBR had upgraded growth forecasts for the coming years, as she brushed aside the 2025 outlook which was slashed in half. [...]
Spring Statement 2025 should be Reeves’ last March 26, 2025 If there’s one lesson Keir Starmer should learn from Liz Truss, it’s that he should sack his Chancellor Rachel Reeves, says Alys Denby With living standards clobbered by an emergency Budget hastily cobbled together as market forces react against government policy, the spectre of Liz Truss haunted the Spring Statement in more ways than one. [...]
Some UK visa and passport fees set to double from April March 26, 2025 The above-inflation increases in visa and passport fees announced in the Spring Budget have been described as “deeply disappointing.” Visitors to the UK will face a seven per cent increase for immigration and passport fees, the government has revealed. Companies also face a more than doubling in the cost of bringing in skilled overseas workers, [...]
Spring Statement 2025: City praises potential ISA reforms March 26, 2025 Chancellor Rachel Reeves confirmed in the Spring Statement that reforms to Individual Savings Accounts (ISAs) are on the horizon, a statement that has been welcomed by the investment industry in the City of London. “The government is looking at options for reforms to Individual Savings Accounts that get the balance right between cash and equities [...]
Small businesses let down by Spring Statement March 26, 2025 Chancellor Rachel Reeves delivered the Spring Statement today, promising stability but offering little relief for small businesses (SMEs) struggling with rising costs. Businesses in the sector said they were at “breaking point” ahead of today’s announcement, with one in five SME business owners saying they have been forced out of business within a year, citing [...]
Spring Statement 2025: Reeves clamping down on tax evasion March 26, 2025 The Chancellor plans to raise over £1bn in additional gross tax revenue, as her Spring Statement singled out tax evaders
Spring Statement 2025: Markets ‘shrug off’ speech as gilt sales revised lower March 26, 2025 The Debt Management Office (DMO) said it was planning £299bn of gilt sales in 2025 to 2026, slightly below the £302bn initially expected despite the government’s borrowing plans. However, this still marked the most extensive package since the pandemic. The DMO said it would issue the smallest selection of long-maturity gilts in its 27-year history [...]