Spring Statement 2026

Rather refreshingly, particularly for people like me who’ve made a habit of summarising fiscal events, we no longer have budgets every few months.

Today’s spring statement was an economic update essentially, accompanied by the usual OBR forecast, signing off on the tax changes announced in the autumn, and committing them to statute.

Slight caveat, these forecasts won’t have taken into account the impact of the recent troubles in the Middle East.

Well the headline grabber was that growth this year is expected to be a bit weaker than previously forecast. The economy is still growing — just not particularly quickly.

The good news? Growth is expected to improve gradually over the next few years rather than fall off a cliff. Think “steady plod” rather than “rapid sprint.”

Inflation is forecast to continue falling towards the Bank of England’s 2% target. That’s important because it gives more breathing space for interest rates to reduce further over time.

So in short, growth is modest, inflation is easing, so we’re not in crisis, but we’re hardly experiencing a boom either.

In terms of public Finances, it’s slightly better than expected

Borrowing is now forecast to fall steadily over the next few years. This gives the Chancellor a bit more “headroom” within her fiscal rules — essentially some wiggle room if things don’t go to plan.

There was a clear emphasis on stability today. The message was very much ‘we’re sticking to the plan, and the numbers are improving gradually.’

Spine-tingling.

What This Means for You

For most individuals and businesses, today doesn’t change anything immediately. Households may continue to see easing pressure if inflation falls and interest rates gradually follow. Business owners get certainty — but not stimulus, as certain industries such as hospitality could have done with.

The big policy moments have already come from autumn’s budget (see below).

The overall tone was cautious but controlled.

The economy isn’t racing ahead, but it’s not unravelling either. Borrowing is improving. Inflation is heading in the right direction. Growth is slow but positive.

If any announcements later in the year affect tax planning, property income, dividends, or business structures, i’ll of course update you.

And for context:

Here is a link to my autumn budget summary outlining what you can expect from Apr 26 and beyond, and

Here is a link to the rates and allowances tables updated for the 26-27 tax year