.png)
Rachel Reeves, the Chancellor of the Exchequer, has confirmed 26 March 2025 as the date for the Spring Forecast.
The Office for Budget Responsibility is required to produce two forecasts each financial year by the Budget Responsibility and National Audit Act 2011.
The Chancellor will accompany the forecast with a speech to Parliament. However, since she is committed to the stability that having only one major fiscal event a year brings, it seems that her speech is unlikely to include any major tax changes.
We will keep you posted on any developments related to the Spring Forecast. If you have any concerns or questions about how the Autumn Budget will affect your tax position for the 2025/26 tax year, please contact us at any time. We will be happy to help you!
See: https://www.gov.uk/government/news/chancellor-commissions-spring-forecast-on-26-march-2025
The Office for National Statistics (ONS) has reported that gross domestic product (GDP), a measure of how the economy is doing, showed zero growth in January, following growth of 0.1% in December 2025.
An independent report, commissioned by the Welsh government, has examined potential future options for income tax devolution in Wales. It compares keeping the current partially devolved system with moving to full devolution, while factoring in the effects of the block grant adjustment (BGA).
