By Anna Jordan on Small Business UK – Advice and Ideas for UK Small Businesses and SMEs
The Spring Forecast is scheduled for March 3, 2026. The Office for Budget Responsibility (OBR) is set to provide its latest fiscal forecast, which the Chancellor will respond to.
First of all, don’t expect any new policy – Reeves has stressed in the past that there is to be one formal fiscal announcement per year in the form of the Autumn Budget. There won’t be any assessment of the government’s performance against fiscal rules, either.
For the first time in its 16-year history, the OBR will not publish an assessment of how the government is progressing in meeting its own fiscal rules.
Unlike the lateness of last year’s Autumn Budget, this is the earliest Spring Forecast on record. This makes it easier for businesses and accountants to plan before the new tax year.
The government reported its greatest ever surplus in January. The public sector recorded a £30.4 billion surplus, according to ONS figures, which is double the surplus and £6.3 billion higher than the OBR’s November forecast. That said, the surplus tends to be higher at this time of year because of an increase in tax receipts.
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