US EditionSpring statement 2025 key takeaways
- Chancellor Rachel Reeves announced a £14 billion package of cuts and savings aimed at restoring fiscal discipline in her Spring Statement.
- Changes to welfare policies will include a decrease in the universal credit standard allowance and stricter disability benefit assessments beginning in late 2026.
- The Treasury confirmed an increase in defence spending, raising it to 2.36 percent of national income by 2026.
- Economists believe the short-term impact of the Spring Statement on growth and interest rates will be limited, projecting a modest growth of 0.8 percent for 2025.
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Reeves Prioritises Fiscal Rules and Political Credibility in Spring Statement, Say Economists
Chancellor Rachel Reeves has prioritised fiscal discipline and political credibility over a blueprint for growth in her Spring Statement, economists have suggested. Confronted with downgraded growth forecasts and a tightening fiscal environment, Reeves has unveiled a £14 billion package of cuts and savings in a fiscal update on Wednesday. Reeves told MPs the decisions were necessary to comply with the UK’s “non-negotiable” fiscal rules amid “inc…
·New York, United States
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Total News Sources70
Leaning Left11Leaning Right7Center24Last UpdatedBias Distribution57% Center
Bias Distribution
- 57% of the sources are Center
57% Center
L 26%
C 57%
R 17%
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