The statement made by Rachel Reeves, the Chancellor of the Exchequer, to the House of Commons on 5 January 2026.
I have asked the Office for Budget Responsibility to prepare an economic and fiscal forecast for publication on 3 March 2026.
This forecast, in addition to the forecast that was published in November 2025, will fulfil the obligation required by the Budget Responsibility and National Audit Act 2011 for the OBR to produce at least two forecasts in a financial year.
As set out at the Budget, the spring forecast will not make an assessment of the Government’s performance against the fiscal mandate and will provide an interim update on the economy and public finances.
The Government intend to respond to this with a statement to Parliament. This is in line with my commitment to deliver one major fiscal event a year at the Budget. This approach gives families and businesses the stability and certainty they need and, in turn, will support the Government’s growth mission.