Spring Statement 2026: no tax changes announced

The Chancellor delivered the Spring Statement on 3 March 2026, providing an update on the public finances based on the latest forecast from the Office for Budget Responsibility.

As she explained, this was not a fiscal event. She confirmed that the Government remains committed to having one major fiscal event each year and will return to Parliament in the autumn to deliver the next Budget.

A consistent theme throughout the speech was the importance of stability, which she described as “the single most important precondition for economic growth”. The Statement focused on the OBR’s revised expectations for growth, inflation and unemployment, along with commentary on the wider global context.

No tax changes

The Chancellor did not announce any changes to tax. There were no updates to tax rates, thresholds or reliefs, and no references to any future changes. This reflects that the Spring Statement was meant to be an economic update rather than a policy announcement.

What this means

Although today’s Statement did not include tax changes, the wider tax landscape continues to evolve. Several previously legislated measures are still due to take effect, and further updates will come through the Autumn Budget. It remains important to keep your tax affairs under review.

Our advice

Even without new announcements, it is sensible to review your tax position regularly. This helps to ensure that:

• available reliefs and allowances are used effectively
• any upcoming changes are considered in good time
• planning opportunities are identified
• longer term arrangements, including succession and estate planning, remain appropriate

We suggest individuals and business owners also reflect on the significant tax changes announced in the 2025 Autumn Budget and how this affects them and their business, if they have not already done so.  

Seek specialist support

If you would like to review your current position or would find it helpful to discuss forward planning, our team would be pleased to help. Shorts' Personal Tax Team can provide support that aligns with your specific needs and goals.