Following Chancellor Rachel Reeves' Spring forecast statement on Tuesday 3 March, there are several important developments that could shape your financial planning in the months ahead.
Our team has prepared a clear, practical guide to the key announcements, and the steps worth considering as you look towards your longer-term goals.
Some key updates:
Charting a course through uncertainty: Rachel Reeves said the government’s economic plan is increasingly important amid global uncertainty, highlighting easing inflation, lower borrowing costs and OBR forecasts as signs of progress.
Updated economic forecasts: The OBR now expects UK growth to reach 1% in 2026, down from 1.4% forecast in November, while inflation is projected to fall to 2.3% in 2026 and reach the Bank of England’s 2% target by year-end.
Employment and fiscal resilience: Unemployment is forecast to peak at 3%, higher than the 4.9% expected in the Autumn Budget, although fiscal headroom has increased from £21.7bn to £23.6bn. The OBR outlook does not include the potential inflationary impact of higher energy prices linked to the Middle East conflict.
Your Next Step
The implications of the Spring Forecast will vary depending on your individual circumstances, including your income, wealth, business interests and long-term goals.
To explore the announcements in more detail, you can download our Spring Forecast 2026 Guide, which provides a clear and accessible overview of the key updates and what they could mean for your financial plans.
If you would like to discuss your circumstances in more detail, please contact us for personalised guidance and support.
Bowmore Financial Planning Ltd is authorised and regulated by the Financial Conduct Authority.