Reeves to give update on plans for economy in Spring Statementpublished at 10:06 GMT
10:06 GMT
Imogen James
Live reporter
Image source, EPA-EFE/Shutterstock
Chancellor Rachel Reeves is due to give an update on the UK economy when she delivers the Spring Statement in the House of Commons from 12:30 GMT.
She’s not expected to announce any major policy decisions such as changes to taxes or spending, but she will say that “because of the decisions we have already taken, we have a stronger and more secure economy”.
The latest estimates for growth, inflation, unemployment, government spending and tax income over the next few years will be released by the Office for Budget Responsibility (OBR) following the statement.
However, today’s forecasts will not take into account any potential impact from the jump in oil prices triggered by the strikes on Iran that began over the weekend.
Although it’s not a major event like the Budget, the Spring Statement is still important, as it can influence government decisions on whether to raise or cut taxes and spending in the future.
We’ll bring you the latest updates and analysis on Reeves’s statement and what it could mean for your money, and you’ll be able to follow the latest live at the top of the page.