  Chancellor leaves for the House of Commons 251126 @ 11.30 As usual we will have a prompt report on what the Chancellor had to say in her Spring Statement on Tuesday 3rd March 2026 which will highlight the key points of interest for V8 Register members and fellow MGV8 enthusiasts. HM Treasury website Autumn Budget 2025 - what did Rachell Reeves reveal? See our review. Link  See a guide to budget statement buzzwords. More... What can we expect in the Spring Forecast 2026? See views of Bishop Fleming. Link Posted: Thursday 260219 |
Spring
Forecast 2026 The Chancellor of the Exchequer Rachel Reeves will deliver her Spring Forecast on Tuesday 3rd March 2026 alongside the publication of new forecasts for the economy and public finances released by the Office for Budget Responsibility (OBR). The OBR is the independent public finances watchdog, which produces the official forecasts for the economy and public finances used by the Chancellor. It’s expected that the Chancellor will likely focus on updating economic forecasts rather than announcing major new tax or spending policies. She has resolved to make major tax and spending announcements once a year, at the Budget, which is usually held in the Autumn. Minimal changes since the Budget means the Spring forecast will be a low-key event, but economic policy should not stand still The Resolution Foundation (an independent think-tank dedicated to lifting living standards in the UK) has said today (19th February) "With no big changes expected in the fiscal forecasts on 3rd March, the Government’s priority should be to minimise policy uncertainty and double-down on boosting growth. The new analysis published by the Foundation today estimates that in the three months since the Autumn Budget 2025, news on the economy has been small and offsetting. The current budget – the Government’s fiscal target – is estimated to be in surplus by just over £20 billion in 2029-30, around £1 billion lower than in November. Growth was just 0.1 per cent in Q4 2025, below the 0.3 per cent expected by the OBR, and inflation was 0.2 percentage points lower than forecast. Lower net migration data will also increase borrowing. Alongside small U-turns on inheritance tax and business rates, the authors estimate that these factors are likely to push up on the OBR’s borrowing forecast by around £6 billion. But this will be largely offset by falls in the cost of government borrowing – with ten-year gilt yields around 0.3 percentage points lower compared with the November forecast". The Foundation adds "Looking ahead, big risks to the public finances remain. If plummeting net migration leads to a large reduction in population projections at a future fiscal event, that could reduce Government tax receipts by £10 billion or more. A range of risks remain from future policy too – most notably if defence spending were to increase to 3 per cent in this Parliament, costing around £10 billion in day-to-day spending. But, on the upside, the OBR’s forecast for wage growth remains conspicuously weak. If the Bank of England forecast for wage growth were to prove correct, then borrowing could be as much as £20 billion lower". What does the press see coming in the Spring Forecast?
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