Spring Budget Date Announced for 3 March 2026 by Chancellor Rachel Reeves
Chancellor Rachel Reeves will deliver the Spring Budget, also referred to as the 'spring forecast,' on 3 March 2026. On the same day, the Office for Budget Responsibility (OBR) is scheduled to publish an economic and fiscal forecast. The government has committed to holding one major fiscal event per year, with the spring forecast serving as an interim update rather than an assessment of performance against the fiscal mandate.
The previous spring statement featured welfare cuts, increased funding for construction training and defence, along with measures targeting tax avoidance. The upcoming spring budget takes place amid ongoing concerns about the UK economy and controversy surrounding tax rises introduced in the November 2025 budget.
On the November budget day, the OBR indicated that public finances were healthier than widely believed, though Reeves stated that she was upfront about there being less fiscal space than initially appeared. Following a leak of the November budget details, OBR head Richard Hughes resigned; investigations attributed the leak to leadership failings over security rather than a cyberattack.
Providing context for the budget, the UK economy experienced a contraction of 0.1% in October.
