Spring Forecast to take place in March

18 Dec 2024

Chancellor Rachel Reeves has confirmed that the Spring Forecast will take place on Wednesday 26 March 2025.

The Chancellor confirmed that the Office for Budget Responsibility (OBR) has been commissioned to publish an Economic and Fiscal Forecast, which will also be issued on 26 March. The OBR is legally mandated to publish two forecasts every financial year.

Ms Reeves stated: 'I intend to respond to the March forecast with a parliamentary statement.

'This is in line with my commitment to deliver one major fiscal event a year, to give families and businesses the stability and certainty they need and, in turn, to support the government's growth mission.'

A multi-year Spending Review is also due in 2025, and the Chancellor has indicated that this will require the government to make savings amounting to 5% of spending.