Five key takeaways from the Spring Statement 2025

OBR halves UK growth to 1% The Office for Budget Responsibility (OBR) has downgraded the UK's growth forecast for 2025 to 1%, down from the 2% it predicted last year during Reeves' Autumn Budget. The chancellor confirmed during her address in the House of Commons that due to "increased global uncertainty", the independent body had revised its growth forecasts down. However, Reeves said her changes to public spending have caused the OBR to upgrade the UK's growth expectations for 2026, 2027, 2028 and 2029 to 1.9%, 1.8%, 1.7% and 1.8%, respectively.  Royal London director of po...