Spring Statement 2026 bombshells - from Rachel Reeves 'defiance' to tax plans

Mihaela Chircă

Rachel Reeves will make a show of "defiance" in next week's Spring Statement as the Government seeks to move past it by-election drubbing. The Chancellor is expected to deliver a no-frills update to Parliament on Tuesday, designed to project stability after the chaos of the Budget in November. The run-up was marred by speculation and confusion, as Ms Reeves signalled she might have to put up income tax before rowing back. And in extraordinary scenes, the Office for Budget Responsibility