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The spring statement will be parliament Tuesday, March 3rd Rachel Reeves Already told member of congress.
The statement will follow the Office for Budget Responsibility’s (OBR) economic and fiscal forecasts, which are expected to be prepared on that date, headmaster said in a written statement to the House of Commons.
Ms Reeves insisted government Only “one major fiscal event per year in the budget” is planned each autumn.
“This approach supports the government’s growth mission by giving households and businesses the stability and certainty they need,” she told MPs.
She said the spring statement “will not assess the government’s performance against its fiscal mandate”.
Instead, it will “provide an interim update on the economy and public finances” following the budget at the end of November.
In her second budget, the chancellor proposed £26bn worth of various tax rises in what was described at the time as a “hodgepodge” strategy aimed at building a bigger buffer for her spending and borrowing plans.
The measures include freezing income tax thresholds amid speculation that overall income tax rates could rise for the first time in decades.
Caps on salary sacrifice schemes, such as optional higher pension contributions, and the “high value council tax surcharge”, the so-called “mansion tax” levied on properties worth more than £2 million in England, are also factors in the rise.
But Ms Reeves also proposed additional spending targeted at the least well-off, including scrapping the two-child cap on benefits to ease child poverty.
Before Ms Reeves stepped forward to deliver the budget on November 26, it was subject to widespread speculation and apparent leaks within the government.
It all came to an end after the UK Budget Office’s Fiscal and Economic Outlook – an in-depth analysis of the budget – was leaked in full just hours before the Prime Minister’s statement in Parliament.
Richard Hughes, head of the budget watchdog, resigns over leaks.