2026 Spring Statement - the political reaction

03 Mar 2026

Addressing the House of Commons, Chancellor Rachel Reeves used the 2026 Spring Statement to unveil updated economic forecasts from the Office for Budget Responsibility (OBR).

Delivering her Statement, the Chancellor said: 'The forecasts today confirm that the choices this government has made are the right ones: stability in our public finances; interest rates and inflation falling; living standards rising; more children lifted out of poverty; more appointments in our NHS; more investment in our infrastructure; a growing economy; and more money in the pockets of working people.'

Responding to the Chancellor, Shadow Chancellor Mel Stride commented: 'This was not a Spring Statement but a surrender.

'Higher unemployment, more borrowing, higher inflation and more taxes for British workers. This cannot continue.'

Meanwhile, Daisy Cooper, Deputy Leader of the Liberal Democrats, stated: 'Our country is paying the price for two anti-growth Labour Budgets and the Chancellor today has wasted a chance to turn things around.

'The government must act now to tackle costs, get Britain growing again and protect our country.'