The Chancellor of the Exchequer, Rachel Reeves, delivered her first Spring Statement on 26 March 2025.
The Spring Statement provided an update to Parliament on the economy, public finances and progress against the Government’s economic objectives.
Headline measures included:
- As promised in the Autumn, the Spring Statement contained no tax rises.
- Defence spending increased to 2.36 percent of GDP, whilst foreign aid funding was reduced to 0.3 percent of GNI.
- £3.25bn of extra investment was confirmed in the form of the “Transformation Fund” to reform the way public services are delivered.
- Increasing capital spending by a further £13bn over the Parliament to support growth-enhancing investments.
- Capital spending was confirmed as increasing by an average of £2bn a year, compared to the Autumn, to fulfil defence commitments.
This report, created by the Dods UK Political Consultant Team, provides a comprehensive sector-by-sector breakdown of the Spring Statement announcements.
For a full overview, download the full report by simply filling out this form:
Image source: Rachel Reeves on X