The Chancellor held the Spring Statement on 3 March 2026, providing an interim update on the economy and public finances.

Whilst the Chancellor did meet the commitment not to make major tax announcements, there was plenty to say on the economy more generally.

Looking back a year, the previous Statement focused on a commitment to increasing defence spending, cuts to the welfare state and economic growth. Over the last year, the majority of those cuts to welfare spending were not supported by backbench MPs and the economy has continued to grow slowly, so what did the Chancellor have to say a year on?

Explore our full analysis of the Chancellor’s latest Statement below.

If you have any questions about the summary’s contents, please speak to your relationship partner or contact us at hello@sb-p.co.uk.

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