Tough fiscal measures 'in the offing' as Reeves expected to cut spending in Spring Forecast

The Spring Forecast, scheduled for 26 March, will see the Office for Budget Responsibility (OBR) publish its revised forecasts for the UK economy and public finances. Reeves will then respond to the forecast in the House of Commons, but some investors are already pricing in additional measures from the chancellor designed to cut spending and ensure the government does not breach its fiscal rules. The pressure to cut costs is even greater after data from the Office for National Statistics (ONS) on Friday (21 March) showed government borrowing – the difference between total public secto...