The chancellor says in her Spring Statement that unemployment will peak later this year and then fall every year of the forecast period until 2030.

The UK economy unexpectedly stalled in January, raising concerns about the country’s ability to withstand a sharp rise in energy prices triggered by the escalating conflict in the Middle East. Data released by the Office for National Statistics showed that gross domestic product remained flat in January,

The Bank of England in February predicted growth of 0.9 per cent for 2026, while economists polled by Reuters expect 1 per cent growth. The OBR is also likely to revise up its unemployment rate, which in November was expected at 4.9 per cent this year, well below the 5.3 per cent forecast in February by the BoE.

Britain’s Treasury chief Rachel Reeves has sought to present a rosy picture of the state of the U.K. economy, even as oil and gas prices soared in the wake of the fast-evolving Iran war that has cast a pall over the global economic outlook.

The Spring Statement on 3 rd March 2026 provided an update on the economy and public finances, without introducing any major tax changes. The Chancellor of the Exchequer, Rachel Reeves reiterated the governments focus on reducing the cost of living,

"at-above-post addthis_tool" data-url=" UK economy unexpectedly failed to grow in January, with a sharp fall in spending at restaurants and cafés highlighting continued pressure on consumer demand. According to figures from the Office for National Statistics (ONS),

The UK government cut its 2026 growth forecast on Tuesday, as Britain's finance minister delivered a fiscal update overshadowed by concerns over the economic fallout from the Iran war.Finance minister Rachel Reeves said the government's economic plan was "even more important in a world that in the last few days has become yet more uncertain with unfolding conflict in Iran and the Middle East".

The UK is forecast to be the second-fastest growing of the world's most advanced economies this year and next, according to new projections from the International Monetary Fund (IMF). The rates of growth remain modest at 1.3% for both years, but that ...