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UK Spring Statement 2025 | Financial Times

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Accessibility helpSign InSubscribeFinancial TimesSubscribeSign InHomeWorldWorld HomeMiddle East warGlobal EconomyUKUSChinaAfricaAsia PacificEmerging MarketsEuropeWar in UkraineAmericasMiddle East & North AfricaThe hunt for Iran’s ballistic missile crewsAmerica chose this war — and must now choose how to end itThe guards rise again: the force still shaping IranMuscat airport limits private jet flights as wealthy leave the GulfSwitzerland votes to end ‘marriage penalty’ in historic tax referendumUSUS HomeUS EconomyUS CompaniesUS Politics & PolicyAmerica chose this war — and must now choose how to end itTrump raises the stakes in Iran by weighing deployment of US ground forcesChina signals it wants a Trump visit despite Iran warLiberals should be less shy about saying what they stand for‘It’s our moment’: rival exiles lobby the US to lead Iran after the warCompaniesCompanies HomeEnergyFinancialsHealthIndustrialsMediaProfessional ServicesRetail & ConsumerTech SectorTelecomsTransportMuscat airport limits private jet flights as wealthy leave the GulfOil surges past $100 a barrel for the first time in four yearsLiberals should be less shy about saying what they stand forIn the centre of the storm: what does the Iran war mean for Dubai?KKR eyes multibillion-dollar sale of data centre cooling companyTechTech HomeArtificial intelligenceSemiconductorsCyber SecuritySocial MediaKKR eyes multibillion-dollar sale of data centre cooling companySamsung seeks AI deals to challenge Apple’s smartphone leadPalmer Luckey’s $1bn pitch to reboot 1990s video game consolesGoogle gives CEO Sundar Pichai new pay deal worth up to $692mnUS draws up strict new AI guidelines amid Anthropic clashMarketsMarkets HomeAlphavilleMarkets DataCryptoCapital MarketsCommoditiesCurrenciesEquitiesMonetary Policy RadarWealth ManagementMoral MoneyETF HubFund ManagementTradingOil surges past $100 a barrel for the first time in four yearsIs the nightmare scenario for global energy here?US faced with few good options to tamp down surging oil pricesBritain is now the home of the Middle ManPhillips 66 changes board to avoid new proxy battle with ElliottClimateOpinionOpinion HomeColumnistsThe FT ViewThe Big ReadLexObituariesLettersAmerica chose this war — and must now choose how to end itLiberals should be less shy about saying what they stand forWe’ll always have DubaiThe war of unintended consequencesEurope’s impotence extends to energyLexWork & CareersWork & Careers HomeBusiness School RankingsBusiness EducationEurope's Start-Up HubsEntrepreneurshipRecruitmentBusiness BooksBusiness TravelWorking ItWhy it’s time to end the grim march of the touchscreenGoogle gives CEO Sundar Pichai new pay deal worth up to $692mnPapier founder: ‘I don’t own stocks or shares — it’s too much risk’Life & ArtsLife & Arts HomeArtsBooksFood & DrinkFT MagazineHouse & HomeStylePuzzlesTravelFT GlobetrotterWe’ll always have DubaiThe curse of the ancient lead tabletsTrump’s war on Iran is spreading. Where does it stop?Palmer Luckey’s $1bn pitch to reboot 1990s video game consolesThe real-world paths to hellHow To Spend ItHomeWorldUSCompaniesTechMarketsClimateOpinionLexWork & CareersLife & ArtsHow To Spend ItFinancial TimesSubscribeSign InUK Spring Statement 2025Reeves warned of tax rises ahead despite £14bn plan to fix public financesChancellor makes cuts to welfare spending as economic forecasts slashedUK Spring Statement 2025Spring Statement 2025 in brief: what you need to knowUK Spring Statement 2025Ministers play down likely rise in poverty from UK welfare cuts, says charityUK Spring Statement 2025Planning reforms to boost UK housebuilding but Labour set to miss targetUK Spring Statement 2025Fresh HMRC crackdown targets late payersUK Spring Statement 2025Reeves’ repair job avoids tax increases — for nowUK Spring Statement 2025Personal finance experts react to the Spring StatementUK Spring Statement 2025UK Spring Statement 2025: the chancellor’s speech in fullUK Spring Statement 2025Rising debt and spending demands: the squeeze on Britain’s finances — in chartsThe editorial boardThe UK chancellor’s fiscal holding operationStephen Bush‘Not quite enough’ may prove to be Labour’s epitaphChris GilesFrom miserable to mediocre: the Reeves challenge continuesClaer BarrettShould Brits brace for tax rises in the Autumn Budget?UK propertySpring Statement: what the next six months has in store for your moneyWhere will the cards fall before the autumn Budget?FT Financial Literacy and Inclusion CampaignRachel Reeves’ Isa reforms must be designed with Gen Z in mindThe chancellor’s plan to revolutionise retail investment needs young investorsClaer BarrettPolitical Fix podcastDoom, gloom and not much headroom: Spring StatementChancellor faces deepening welfare cuts row and prospect of fresh tax risesUK economy‘Not being Liz Truss’ does not a growth strategy makeIn rushing its fiscal fences, the Spring Statement risks otherwise well-meaning reform being botchedAndy HaldaneUK economyTrump’s car tariffs pile pressure on Reeves’ new economic planOffice for Budget Responsibility warns a global trade war risks eliminating UK chancellor’s fiscal headroomGlobal EconomyBenefits cuts to fuel ‘recession level’ hit to UK’s poor, warns think-tankChancellor has chosen to ‘concentrate the pain’ on sick and disabled, Resolution Foundation saysEuropean economyFree Lunch. What’s the point of fiscal rules?Don’t let the budget rule tail wag the democratic dogMartin SandbuInside PoliticsSpring Statement did not stem fiscal doom loopLabour’s policy mix will not break the cycle of making irreconcilable promises on tax, spending and public servicesUK public financesRachel Reeves’ Spring Statement — in chartsUK chancellor sets out welfare cuts and departmental spending squeeze, but she may be forced to raise taxes in autumnPoliticsMinisters play down likely rise in poverty from UK welfare cuts, says charityJoseph Rowntree Foundation says forecasts rely on ‘sleight of hand’ to underestimate true impact of reformsUK public financesWeak productivity and Trump tariffs: the chancellor remains in perilous fiscal watersOfficial forecasts show how easily Reeves’ plan could run into troubleUK public financesThe FT View. The UK chancellor’s fiscal holding operationThe government needs to make bold choices ahead of the autumn BudgetThe editorial boardPoliticsReeves’ repair job avoids tax increases — for nowBut government risks backlash over welfare cuts that will push tens of thousands into povertyTaxShould Brits brace for tax rises in the Autumn Budget?No tax changes in the Spring Statement, but if the search for growth proves fruitless they’ll soon be back on the agendaClaer BarrettPersonal FinanceFresh HMRC crackdown targets late payersPenalties will rise with the aim of netting £1bn over the next four yearsTaxReeves warned of tax rises ahead despite £14bn plan to fix public financesChancellor makes cuts to welfare spending as economic forecasts slashedIsasPersonal finance experts react to the Spring StatementFrom another crackdown on tax collection, to Isa threats and investing in defence stocksNimesh ShahChristine RossSimon EdelstenPoliticsUK Spring Statement 2025: the chancellor’s speech in fullRachel Reeves’ statement to the House of CommonsAerospace & DefenceReeves sets out new UK defence growth boardChancellor confirms £2.2bn military funding rise next year in Spring StatementUK economy‘Not quite enough’ may prove to be Labour’s epitaphManaging to do anything that could add to GDP is welcome, but it will not get the government off the hookStephen BushProperty sectorPlanning reforms to boost UK housebuilding but Labour set to miss targetOBR forecasts 305,000 more new homes a year by 2029 as a result of changesOffice for Budget ResponsibilityFT Alphaville. The OBR stays averageOur disappointment is immeasurable and our day is ruinedUK economySpring Statement 2025 in brief: what you need to knowA summary of the key policy announcements and official forecastsGiltsSpring Statement as it happened: Reeves announces £14bn plan to fix Britain’s strained public financesUK chancellor forced to make last-minute savings to shore up the nation’s financesPoliticsChancellor forced to find more savings after watchdog doubts £5bn costingChancellor forced to find more savings after watchdog doubts £5bn costingHelp CentreContact UsAbout UsAccessibilityCareersSuppliersTerms & ConditionsPrivacy PolicyCookie PolicyManage CookiesCopyrightSlavery Statement & PoliciesShare News Tips SecurelyIndividual SubscriptionsProfessional SubscriptionsRepublishingExecutive Job SearchAdvertise with the FTFollow the FT on XFT ChannelsFT SchoolsPortfolioFT AppFT Digital EditionFT EditAlerts HubBusiness School RankingsSubscription ManagerNews feedNewslettersCurrency ConverterFT Live EventsFT ForumsFT Leaders AcademyMore from the FT GroupFT Editorial Code of PracticeUKSubscribe for full accessHomeWorldMiddle East warGlobal EconomyUKUSChinaAfricaAsia PacificEmerging MarketsEuropeWar in UkraineAmericasMiddle East & North AfricaUSUS EconomyUS CompaniesUS Politics & PolicyCompaniesEnergyFinancialsHealthIndustrialsMediaProfessional ServicesRetail & ConsumerTech SectorTelecomsTransportTechArtificial intelligenceSemiconductorsCyber SecuritySocial MediaMarketsAlphavilleMarkets DataCryptoCapital MarketsCommoditiesCurrenciesEquitiesMonetary Policy RadarWealth ManagementMoral MoneyETF HubFund ManagementTradingClimateOpinionColumnistsThe FT ViewThe Big ReadLexObituariesLettersLexWork & CareersBusiness School RankingsBusiness EducationEurope's Start-Up HubsEntrepreneurshipRecruitmentBusiness BooksBusiness TravelWorking ItLife & ArtsArtsBooksFood & DrinkFT MagazineHouse & HomeStylePuzzlesTravelFT GlobetrotterPersonal FinanceProperty & MortgagesInvestmentsPensionsTaxBanking & SavingsAdvice & CommentHow To Spend ItSpecial ReportsAlphavilleFT EditLunch with the FTFT Globetrotter#techAsiaMoral MoneyVisual and data journalismNewslettersVideoPodcastsNews feedFT SchoolsFT Live EventsFT ForumsFT Leaders AcademymyFTPortfolioFT Digital EditionCrosswordOur AppsHelp CentreSubscribeSign In

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