Spring Statement 25: Government provides update on welfare reform

OBR confirms saving

Today (26 March) Chancellor Rachel Reeves gave a financial update on the policies implemented by the Labour government, and provided an update on welfare reforms announced previously.

The statement served as more of an update for the UK's economic health, as opposed to a budget, reflecting the chancellor's desire to have "one major fiscal event per year". Reeves offered an update on last week's proposed welfare reforms. The proposed reforms were announced by Liz Kendall and focused on delivering personalised support to sick and disabled people who can work to get the jobs they "need and deserve". Proposed savings to incapacity and disability were at £5bn before the end of 2030, and Reeves provided the news that final costing had been examined by Office for Budget R...