Spring Statement 2025

We have sought to pick out all the key points from the Spring Statement 2025, including:

• The Office for Budget Responsibility (OBR) halved its growth forecast for this year to 1%

• Further welfare cuts to deliver savings of £3.4bn, less than the predicted £5bn

• No further tax or pension changes

• Defence spending, which had been due to rise £2.9bn next year, is now set to increase by a further £2.2bn

• Planning reforms will see housebuilding reach a 40-year high by 2030

Read more about the impact of the Spring Statement 2025 by downloading our overview summary here