![\"Rachel](\"https:\/\/dailybusinessgroup.co.uk\/wp-content\/uploads\/2025\/11\/Rachel-Reeves-with-red-box.png\")
Rachel Reeves has announced that she will deliver a spring statement on 3 March which will provide an update on the economy and the public finances.<\/p>\n
She has asked the independent budget watchdog, the Office for Budget Responsibility (OBR), to \u201cprepare an economic and fiscal forecast\u201d for publication on the same day.<\/p>\n
But there will be no assessment of the government\u2019s performance against the fiscal mandate as the Treasury has committed to delivering only one major fiscal event a year, at the autumn budget.<\/p>\n
Analysts, however, expect more than a progress report, particularly as the last spring statement include welfare cuts, extra money for construction training and defence, and a crackdown on tax avoidance. <\/p>\n
There are also elections in May, notably in Scotland where the Scottish Labour Party will be looking for significant support from the Treasury.<\/p>\n
In her November budget the Chancellor said her actions would shave 0.5 percentage points from inflation but economists and businesses will be looking for a pick up in economic activity.<\/p>\n
She was forced to deny misleading the public over the state of the public finances and said she had been \u201cupfront\u201d about her decision-making.<\/p>\n
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