5 things you need to know about the Spring Statement | Politics | News
Chancellor Rachel Reeves as she headed to Parliament for the Spring Statement (Image: Getty)
5 things you need to know about the Spring Statement
- Growth forecasts have been slashed, down to 1.1%, by the budget watchdog the office of budget responsibility.
- Uncertainty around Iran makes predictions about economic growth and inflation very hard to make accurately,
- Rachel Reeves has seen her ‘fiscal headroom’, the amount of money left over that she has to spend, increase from ยฃ21.7billion to ยฃ23.6billion.
- Energy prices are still rocky, and set to increase, meaning many UK households will not feel the changes in their pocket.
- Overall the Spring Statement did not hold any big ticket items, and many of the changes to tax rates and inflationary measures are yet to be felt.
