Chancellor chooses early date for Spring Statement but stresses will not be a ‘major fiscal event’ as only one a year now, hopefully avoiding chaos of Budget last month
Rachel Reeves has asked the Office for Budget Responsibility to prepare an economic and fiscal forecast for release on 3 March 2026.
This will be presented to parliament by Reeves ‘in line with the government’s commitment to deliver one major fiscal event a year at the Budget’.
This means no random tax policies or new measures should be announced in March, which was often the case in the past leading to the perception that previous chancellors were falling into the habit of producing two Budgets a year in all but name.
The Treasury confirmed: ‘As set out at the Budget last month, the spring forecast will not make an assessment of the government’s performance against the fiscal mandate and will instead provide an interim update on the economy and public finances.
‘This approach gives families and businesses the stability and certainty they need and supports the government’s growth mission.’
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