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 [...]
Spring Statement 2025: OBR slashes growth forecast March 26, 2025 The Office for Budget Responsibility (OBR) has slashed its growth forecast in half to one per cent as Chancellor Rachel Reeves said she was “not happy” about the revised figures. Reeves has insisted that high growth is key to Labour’s mission in government, while Prime Minister Keir Starmer has previously suggested that it is aiming for a rate [...]
Spring Statement 2025: ‘Missed opportunity’ to avoid hospitality cliff edge March 26, 2025 The UK’s leading hospitality body has slammed the Spring Statement as a ‘missed opportunity’ to solve the mounting crisis in Britain’s pubs and bars. The statement contained no phasing in of higher national insurance contributions (NICs) or extra support for the sector, despite pleas from the industry. “Growth won’t just happen without a plan. Today’s [...]
Spring Statement 2025: Housing reform to pave way for GDP growth March 26, 2025 The government’s changes to housebuilding will result in a £6.8bn boost to GDP by 2029, according to OBR figures included in the Spring Statement. Chancellor Rachel Reeves called the forecast the “biggest ever” positive growth impact that the OBR has projected from a non-fiscal government policy. Changes to the UK’s housebuilding market were a cornerstone [...]
Spring Statement 2025: New growth board to oversee Britain’s defence push March 26, 2025 Chancellor Rachel Reeves has revealed further details of plans to boost Britain’s defence industry, including reforms of the procurement system and the appointment of a new oversight board. The government had already announced an extra £2.2bn will be plugged into the military amid concerns over US President Donald Trump’s commitment to European defence. Speaking in [...]
Spring Statement 2025: Reeves makes further cuts to Universal Credit March 26, 2025 Further cuts will be made to Britain’s welfare bill – but only save the government £3.4bn rather than the £5bn originally thought – Rachel Reeves has announced in the Spring Statement. The Chancellor has confirmed there will be further reductions to the cost of benefits, and to government spending, after the Office for Budget Responsibility [...]
Spring Statement 2025: Markets and bonds tread water ahead of ‘testing day’ March 26, 2025 Markets and bonds were relatively flat on Wednesday morning as analysts predicted Rachel Reeves’ Spring Statement would mark a “testing day”. The FTSE 100 had minor gains following market open, with Marks and Spencer leading the index’s biggest risers. The mid-cap FTSE 250 had a slight uptick, led by a surge in retailer Ocado after [...]
Spring Statement 2025: More welfare cuts to come March 26, 2025 MPs and voters will “hear more” from the Chancellor on welfare cuts at the Spring Statement, the defence secretary has said. John Healey has appeared to confirm that further cuts to welfare spending will be required because the budget watchdog has said previously-announced measures will not save the £5bn a year expected by 2030. The [...]