Chancellor Rachel Reeves confirms there won’t be tax increases as she prepares to deliver the Spring Statement.
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00:00No, this is not a budget. It's an update on the forecast from the Office of Budget Responsibility.
00:06So there won't be tax increases at the Spring Statement this week. I promised to deliver
00:11just one budget per year and made the decisions that we needed to make in October to put the
00:16public finances on a firm footing and also to ensure that we had the money for frontline
00:21public services, particularly the NHS, at the budget. So we'll be updating on the forecast,
00:26continuing to meet the fiscal rules, but no tax increases.