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Spring Statement Live Update: No Tax Increases

Published Date: March 26, 2025
Categories: Property Tax News

( Last Updated: February 18, 2026 )

The chancellor reiterated that there would be no tax increases but would instead crack down on tax evasion.

She shared her plan to increase the number of tax evaders charged each year by 20%. She said that the total revenue raised from reducing tax evasion would reach £7.5bn.

Reeves also stated that the OBR forecasts the "investment rule" will be met two years ahead of schedule.

According to the projections, net financial debt is expected to reach 82.9% of GDP in 2025/26 and 83.5% in 2026/27, before declining to 82.7% by 2029-30.

This creates a £15.1bn buffer in the final year of the forecast.

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