Today is Spring Forecast, usually known as Spring Statement, day.
As we’ve established, there’s not likely to be much for small businesses, especially after the tax hikes seen in last year’s Autumn Budget. That’s on top of the 6.7 per cent National Living Wage increase (for those over 21) which will be introduced on April 1.
In fact, as the Treasury keeps stressing, there’s not much to expect at all, citing that it will be a “light scorecard” non-event. Just a forecast from the Office for Budget Responsibility (OBR).
But with a struggling economy, shrinking businesses and geopolitical instability, the government’s hand could be forced. Welfare cuts have been widely reported, but could more change be afoot?
We’ll be covering the Spring Statement live from around 12:30pm. Click here to go straight to the live blog.
When is the Spring Statement/Forecast 2025?
It will take place on March 26, 2025.
When will it start?
There isn’t a defined start time, but announcements like these usually happen after Prime Minister’s Questions which wraps up at 12:30pm. It’ll last around an hour and be followed by a response from the shadow Chancellor.
Where will it be broadcast?
It will be broadcast live on the BBC and streamed on parliamentlive.tv.
Spring Statement 2025 live blog
Read more
Spring Forecast 2025 and what it means for small businesses – The government has called the Spring Forecast (previously known as the Spring Statement) on 26 March. What will Rachel Reeves announce?
Employment Rights Bill – what’s in the legislation? – We take a look at Labour’s Employment Rights Bill and how the business community has reacted to the measures
What is the VAT threshold? – At what point does your small business have to start paying VAT? Should you voluntarily pay VAT? And what are legitimate ways to stay under the VAT threshold?
