Spring Statement 2026
The UK tax system seems to grow more complicated every year. It was therefore a relief to hear Rachel Reeves’ promise, in her first Budget in October 2024, that she would restrict herself to one ‘fiscal event’ a year. She would not tinker with the tax system in November and again in March, as some of her predecessors have done. On this occasion at least, she has kept her promise: her speech contained nothing about tax, and there were no new documents released onto the internet by HM Revenue & Customs when she sat down.
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