Government announces date for Spring Statement

The Chancellor Rachel Reeves has announced the Spring statement will take place on 3 March 2026.

Ms Reeves has asked the Office for Budget Responsibility to prepare an economic and fiscal forecast.

The news comes after the Autumn Budget in November, which raised tax rates on dividends, property, and savings income by 2 percentage points.

Supports the government’s growth mission

In a press release, the Treasury said: “As set out at the Budget, the Spring forecast will not make an assessment of the government’s performance against the fiscal mandate and will instead provide an interim update on the economy and public finances.

“The government will respond to the March forecast through a statement to Parliament, in line with the government’s commitment to deliver one major fiscal event a year at the Budget.

“This approach gives families and businesses the stability and certainty they need and supports the government’s growth mission.”

In the 2025 Spring Statement, Labour announced that £2bn would be allocated to social housebuilding to help meet its target of 1.5 million homes.

However, many industry experts warned at the time that this funding would not be sufficient to address the scale of the housing shortage, and the National Residential Landlords Association (NRLA) described the last Spring Statement as a missed opportunity for renters.