RACHEL Reeves is set to deliver the government’s Spring Statement, as well as forecasts from the Office for Budget Responsibility.
The chancellor has been saying for months that last year’s tax hikes were necessary to fix the nation’s finances. Here’s everything you need to know.
When is the Spring Statement 2026?
Chancellor Rachel Reeves is scheduled to deliver the 2026 Spring Statement at the House of Commons on Tuesday, March 3, 2026.
Although no official time has been confirmed, she is expected to begin her speech just after midday.
The Spring Statement will be delivered immediately after the conclusion of morning government business.
This year’s event is different from previous Spring Budgets.
more on the spring statement
Following the government’s commitment to holding only one major fiscal event per year – the Autumn Budget – it is being framed as an interim update rather than a full Budget.
Ms Reeves will give a rundown on whether the economy has grown, the state of inflation, and fiscal headroom.
Much of the focus will be on the Office for Budget Responsibility’s (OBR) economic forecasts.
At the last budget, the watchdog accidentally leaked its assessment and revealed the Treasury’s plans 40 minutes before the chancellor could.
For the first time, the OBR will provide an update on the economy and public finances without a formal assessment of whether the government is meeting its fiscal rules, as this assessment now only happens in the autumn.
On February 25, Ms Reeves said: “The spring forecast is just a forecast. We’ve committed to just one fiscal event, one Budget, a year.
“What we will have next week at the spring forecast is an update in the forecasts for inflation, for interest rates, for government borrowing.
“But I was really clear that I wanted to end the instability of Budget after Budget, mini-Budget, fiscal events, that we had under the previous government, where we had five prime ministers and seven chancellors, and instead return the stability that is needed to our economy, so that businesses have the confidence to invest and families have the confidence to spend.”
She is expected to address the current growth outlook, the impact of previous National Insurance changes, and the ongoing strategy for public service reform.
In January, the government recorded a record-breaking £30.4billion budget surplus – double the amount from same point in 2025.
Inflation has also dropped to 3%, meaning the Bank of England could look at cutting interest rates.
Where to watch the Spring Statement
You can follow the statement live with the following broadcasters:
