Chancellor Rachel Reeves delivered the Spring Statement on Wednesday 26 March 2025. In the run up to the event, the Chancellor stated that she 'remains committed to one fiscal event a year to give families and businesses stability and certainty on upcoming tax and spending changes."

The Chancellor met her commitment and there was no major tax announcements. What the Spring Statement did do was confirm a number of measures recently announced:

• Cuts to the welfare state.
• Cuts to the civil service.
• An increase in defence spending.

There was also announcements about the rollout of the Making Tax Digital (MTD) for Income Tax project.

Download our summary to read more about the key announcements made.

If you have any questions on the summary, please speak to your relationship partner or email us at hello@sb-p.co.uk

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