Spring Statement 2026: Download our full summary

Chancellor Rachel Reeves stood up in Parliament this week with a message she hopes will reassure millions of households across the UK that “things are improving.” 

Click here to download our full summary of the statement.

Growth forecasts have been trimmed, but borrowing is down nearly £18 billion on autumn projections, inflation is falling, energy bills are dropping on average by £150 next month and unemployment, whilst expected to increase briefly, is forecast to be lower by the end of this Parliament than when it began. 

For families who have felt the squeeze in recent years, today’s numbers carry a cautious but tangible optimism. For businesses planning ahead, the picture is one of a period of stability rather than dramatic change. 

But statistics only tell part of the story – what do these announcements actually mean in practice – for the future, both personally and your business?

Download our Spring Statement summary guide which explores the announcements in more detail, reflecting on details shared by The Chancellor and what they mean for you. 

Key takeaways from the 2026 Spring Statement 

• Growth forecasts revised: The OBR now forecasts GDP growth of 1.1% in 2026, down from its November prediction of 1.4%, but has nudged its 2027 and 2028 forecasts up to 1.6%. 
• Inflation expected to fall: The OBR predicted inflation falling from 3.4% in 2025 to 2.3% in 2026, and down to 2.0% from 2027 onwards. 
• Borrowing set to drop: The Chancellor said borrowing is set to fall by nearly £18 billion compared to the autumn forecast, with public sector net borrowing expected to drop from 4.3% this year to 1.8% by 2029–30. 
• Unemployment outlook: Unemployment is forecast to peak later this year before falling in every year of the forecast period, ending at 4.1%, lower than at the start of this Parliament. 
• Energy bills: The Chancellor highlighted that energy bills are set to come down by £150 on average from next month. 
• Defence spending: Reeves noted the government is delivering what she described as the biggest uplift in defence spending since the Cold War, referencing a £650 million commitment to upgrade Typhoon fighter jets. 

Further considerations and additional resources 

• Although no major tax or spending announcements were made, there are still significant tax changes approaching in April 2026, including to Agricultural and Business Property Relief from inheritance tax. Visit our inheritance tax planning and management hub for further details. 
• Make sure you look at our year end tax planning summary, which offers a range of useful personal tax considerations ahead of the end of the financial year, including capital gain tax, income tax, pensions and child benefit to name but a few. 
• Sign up to receive our newsletter inside which we regularly share our latest insights, suggestions, resources and events for you to take advantage of. 

Get personalised help and guidance 

Please contact us today and speak with a member of our team to discuss your individual circumstances in more detail. With various tax changes arriving soon, it is vital to be prepared.