"The global economic landscape has become increasingly unpredictable."
"The heightened uncertainty on a global scale has had two primary effects: first, on our public finances, and second, on the overall economy."
"These fiscal rules are not subject to change. They represent this government’s steadfast commitment to maintaining economic stability."
"As I assured in the autumn, this announcement does not introduce any additional tax increases."
"Rather than reducing investment, I am increasing capital spending by an average of £2 billion per year compared to the autumn budget. This will stimulate economic growth and ensure we fully meet our crucial commitments on defence."
"By 2029-30, day-to-day spending will be reduced by £6.1 billion. However, it will still see an average annual growth of 1.2% above inflation, slightly adjusted from the 1.3% forecast in the autumn."
"The Office for Budget Responsibility (OBR) has estimated that this package will lead to savings of £4.8 billion in the welfare budget, considering behavioural impacts and broader economic factors."
"We are allocating £1 billion to ensure guaranteed, personalized employment support, helping individuals re-enter the workforce. Additionally, £400 million will be directed to the Department for Work and Pensions to facilitate these reforms effectively and fairly, bringing the total savings from the package to £3.4 billion."
"A minimum of 10% of the Ministry of Defence’s equipment budget will be allocated to advanced technologies, including drone systems and AI-driven innovations."
"The Defence Secretary and I will launch a new Defence Growth Board to maximize the value of every taxpayer pound spent. We will also integrate Defence into our modern industrial strategy to foster innovation, generating significant economic benefits for the UK."
"The OBR has projected that our housing sector reforms will result in housebuilding reaching a forty-year high of 305,000 new homes by the end of the forecast period. Furthermore, updates to the National Planning Policy Framework alone will facilitate the construction of over 1.3 million homes across the UK within the next five years."
"The OBR predicts that Consumer Price Index (CPI) inflation will average 3.2% this year before declining sharply to 2.1% in 2026, reaching the 2% target by 2027. This will provide families and businesses with much-needed financial security while ensuring a stable foundation for economic growth."
"I am advancing £3.25 billion in investment to drive the necessary transformations in our public services through a newly established Transformation Fund. This funding will be utilized now to help lower the costs of government operations in the long run."
"I am pleased to report that the OBR now forecasts Real Household Disposable Income to grow this year at nearly double the rate anticipated in the autumn. Furthermore, living standards are set to rise at twice the pace during this parliamentary term compared to the previous one."
"In our effort to combat tax evasion, I am expanding investments in advanced technology, strengthening HMRC’s capabilities to tackle tax avoidance, and introducing measures to increase the prosecution of tax fraud cases by 20% annually. These initiatives will generate an additional £1 billion, bringing the total revenue recovered from reducing tax evasion under this government to £7.5 billion."
1
2
3
4
.svg)
