Spring Statement 2025 – NFB Briefing Document

Summary

The Chancellor of the Exchequer, Rachel Reeves, has delivered her Spring Statement to the House of Commons, promising to ‘secure Britain’s future’ and claiming that there is ‘nothing progressive or Labour about economic irresponsibility’.

This document provides NFB members with details and analysis of the headline announcements.

With a strong focus on reinforcing how reforms will deliver growth, there was clear intent to rebuff critics who believe the 1.5 million new homes target cannot be met. This was underlined by OBR analysis, which forecasted 1.3 million homes across this parliament but did not include recent reforms in the Planning and Infrastructure Bill.

AI and investment, both public, for example social housing, and private, for example in transport schemes are championed as growth enablers.