Spring Statement 2026: What to Expect

Rachel Reeves has confirmed that she will deliver the Spring Statement to the House of Commons on Tuesday, 3 March 2026.

The Spring Statement is primarily an opportunity for the government to set out an update on the state of the UK economy, informed by the latest economic and fiscal forecasts from the Office for Budget Responsibility (OBR). Alongside this, the statement often serves as a platform for publishing consultations, including early-stage calls for evidence and discussions on longer-term tax policy challenges.

The OBR plays a central role in the UK’s fiscal framework. It is responsible for producing the official economic and public finance forecasts, assessing the government’s performance against its fiscal rules, evaluating the sustainability of public finances, and scrutinising tax and welfare spending plans.

While the Spring Statement can signal the government’s economic direction, it is not typically the forum for major tax or spending changes. Substantial policy announcements are usually reserved for the Budget itself. As a result, it remains to be seen whether this year’s statement will contain any significant new measures or simply reaffirm the government’s existing fiscal strategy.

The next full Budget is expected later in the year, in the Autumn, where more detailed and potentially far-reaching policy decisions are likely to be announced.