Spring statement to take place on March 3, Rachel Reeves tells MPs

A spring statement will be delivered in Parliament on Tuesday March 3, Rachel Reeves has told MPs.

The statement will follow an economic and fiscal forecast by the Office for Budget Responsibility (OBR), due to be prepared for that date, the Chancellor said in a written statement to the Commons.

Ms Reeves insisted the Government only plans to “deliver one major fiscal event a year at the budget” each autumn.

“This approach gives families and businesses the stability and certainty they need and, in turn, to support the Government’s growth mission,” she told MPs.

The spring statement “will not make an assessment of the Government’s performance against the fiscal mandate”, she said.

Instead it “will provide an interim update on the economy and public finances”.