When is the Spring Statement and what might be in it?

"The Spring Statement outlines the latest economic forecasts from the Office for Budget Responsibility (OBR). These will be published in full after Reeves has delivered her speech in the Commons. The OBR is the independent body that monitors the government's spending plans and performance. It produces forecasts twice a year. These give an indication of how the economy is expected to perform."

"Although it is not a major event like the Budget, the Spring Statement can influence government decisions on whether to raise or cut taxes and spending in the future. However, this year's Spring Statement will not contain an official assessment of whether the government is likely to meet its tax and spending rules. These assessments will now only be published at the time of the Budget."

"These figures matter because the government may cut spending or raise taxes if it is at risk of not meeting its rules. Despite the lack of an official "headroom" figure from the OBR on Tuesday, independent economists are still expected to produce their own assessments of the government's finances."

Chancellor Rachel Reeves will present the Spring Statement on Tuesday, releasing the latest economic forecasts from the Office for Budget Responsibility (OBR). The statement will include estimates for growth, inflation, unemployment, government spending, and tax income over the coming years. Unlike the Budget, the Spring Statement is a less formal event but can still influence future government decisions on taxation and spending. This year's Spring Statement will not include an official assessment of whether the government meets its fiscal rules, with such assessments now reserved for Budget announcements. The OBR, an independent body monitoring government finances, produces forecasts twice yearly. Independent economists are expected to provide their own assessments despite the absence of an official "headroom" figure.

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