Spring Statement 2026: the key takeaways for business owners

On Tuesday 3 March 2026, the Chancellor of the Exchequer, Rachel Reeves, delivered her Spring Statement to parliament.

Here are some of the key takeaways from the announcement...

• The OBR has downgraded its forecast for economic growth for this year to 1.1% - it previously forecast the economy would grow by 1.4% in 2026. It expects economic growth to pick up in the following years, to 1.6% in 2027 and 2028, and then 1.5% in both 2029 and 2030
• GDP per capita is expected to grow by 5.6% over the course of the parliament, Reeves said
• Her so-called ‘fiscal headroom’ has increased from £21.7bn to £23.6bn, increasing the financial buffer against unexpected shocks
• The OBR forecasts that borrowing is set to reduce by nearly £18bn compared to the autumn. Public sector net borrowing is set to fall from 4.3% this year to 3.6% next year, then 2.9%, 2.5% and 1.8% in 2029/30
• The Government plans to spend less on debt interest, releasing £15bn more in the budget to help make working people better off
• Unemployment will peak later this year and then fall in every year of the forecast period, ending at 4.1%
• People are forecast to be more than £1,000 a year better off by the next election, when accounting for inflation, the Chancellor added
• In the coming weeks, new employment reforms will be introduced to “give young people the support and opportunity that they deserve.”

For a confidential chat about how today’s announcement might impact your business, get in touch: enquiries@christie.com