Spring Statement 2025: Key points announced by Chancellor Rachel Reeves in Budget update скачать в хорошем качестве

Spring Statement 2025: Key points announced by Chancellor Rachel Reeves in Budget update

Chancellor Rachel Reeves has cut billions of pounds of planned spending, including on benefits, after Britain’s economic growth and public finances were hit since her autumm Budget. Here are the key points in the Spring Statement 2025: Economic forecasts: The Office for Budget Responsibility (OBR) halved its economic forecast for the UK economy from two per cent in the autumn to one per cent now. But Ms Reeves stressed: “ I can confirm to the House that the OBR have upgraded their growth forecast next year, and every single year thereafter, with GDP growth of 1.9% in 2026, 1.8% in 2027, 1.7% in 2028, and 1.8% in 2029.” The OBR forecast that CPI inflation will average 3.2% this year, before to 2.1% in 2026 and meeting the 2% target from 2027 onwards. Fiscal headroom: Economic blows meant the current budget would have been in deficit by £4.1bn in 2029-30, the Chancellor told the Commons, having been in surplus by £9.9bn. The Chancellor vowed to restore the “fiscal headroom.” She said: “I can confirm that I have restored in full our headroom against the “stability rule”… … moving from a deficit of £36.1bn in 2025-26 and £13.4bn in 2026-27… … to a surplus of £6.0bn in 2027-28, £7.1bn in 2028-29 and £9.9bn in 2029-30. “ Read more: https://www.standard.co.uk/news/polit... Subscribe to the Evening Standard: https://bit.ly/Subscribe-to-Evening-S... for latest breaking news from the UK, US and around the world, plus podcasts and features. Evening Standard on socials: Check out our full video catalog:    / londoneveningstandard   Videos, daily editorial and more: https://www.standard.co.uk/ Like us on Facebook: https://www.fb.com/eveningstandard Follow us on Twitter:   / eveningstandard   and Instagram:   / evening.standard