Chancellor Rachel Reeves has set out her plans for our country's economic future during the Spring Statement 2025. With stagnant growth, a massive public sector bill and a belligerent Russa, what did she announce, and did she go far enough?
The welfare bill was cut and economic inactivity from those living on benefits will be reduced. The Civil Service will be reduced by 15% over time and defence spending will rise to 2.5%, although in light of the war in Ukraine and the stepping back of the USA, we need to be doing a lot more and taking a military lead in Europe.
Written in plain English, we have broken our PDF summary down into the main areas of taxation, including business and corporate, employment, personal and capital. We have also included comments on the more important changes, together with any planning points that may arise.
Click here to download our PDF summary
Our summary provides an invaluable update for you and will help you get to grips with the announcements. It will remain on our blog for you to refer to as and when you need it, but if you have any questions, don't forget we are here to help you navigate and plan your way through the tax maze, so please do get in touch.
If you feel inspired to find out more about anything I've said here, do call me on 01908 774320 or leave a comment below and I'll be in touch as soon as I can.