The survey showed a two-point increase in expectations for the economy over the next 12 months, though consumers remained less optimistic about their personal finances.
The data comes as Chancellor Rachel Reeves prepares to announce fresh economic and budget forecasts, with potential spending cuts on the horizon, in the 'Spring Statement'. Reeves is scheduled to deliver the UK's Spring Statement on Wednesday, 26 March 2025, around 12:30 PM GMT.
Economic Forecasts: Updates from the Office for Budget Responsibility (OBR) on GDP growth, inflation, and debt levels.Spending & Revenue Updates: Adjustments to tax revenues, borrowing, and government spending.Policy Announcements: Sometimes includes minor tax or spending changes, but major fiscal measures are usually reserved for the Autumn Budget.Inflation & Cost of Living Response: May address key economic challenges like inflation, energy prices, and public sector pay.
Difference from the Budget
The Autumn Budget (main event) sets major tax and spending decisions.The Spring Statement is more of an update, though it can include new measures in urgent situations. This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
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