• Contact
Friday, May 16, 2025
Register
Login
European Press
Advertisement
  • News
  • Business
  • Tech
  • Sport
  • Health
  • Entertainment
  • Lifestyle
  • Video
No Result
View All Result
  • News
  • Business
  • Tech
  • Sport
  • Health
  • Entertainment
  • Lifestyle
  • Video
No Result
View All Result
European Press
No Result
View All Result

what businesses need to know

26 March 2025
in Business
Reading Time: 3 mins read
A A
what businesses need to know
ShareShareShareShareShare

Chancellor Rachel Reeves delivered her spring statement today, unveiling a £14 billion package of cuts and new investments aimed at restoring the UK’s fiscal credibility and boosting long-term productivity.

Against a backdrop of weak growth and rising debt, Reeves outlined measures to rein in public spending, drive efficiency across government departments and invest in critical areas such as defence, housing and AI.

Here are the key highlights from today’s statement.

Fiscal outlook and debt forecast

The Office for Budget Responsibility (OBR) now forecasts a deficit of £36.1 billion in 2025-26, falling to £13.4 billion the following year and returning to a surplus of £9.9 billion by 2029-30. Reeves confirmed that her new package of cuts has restored the government’s fiscal headroom to the same £9.9 billion reported last autumn.

Welfare reform and universal credit

A series of welfare changes are at the heart of the chancellor’s cost-saving drive. The universal credit standard allowance will rise gradually, from £92 per week in 2025-26 to £106 by 2029-30. However, the health element of universal credit will be halved and frozen for new claimants. Reeves also committed £1 billion to getting more people back into work, with an additional £400 million in funding allocated to the Department for Work and Pensions. Overall, these measures are expected to save £3.4 billion.

Support authors and subscribe to content

This is premium stuff. Subscribe to read the entire article.

Login if you have purchased

Subscribe

Gain access to all our Premium contents.
More than 100+ articles.
Subscribe Now

Related Posts:

  • what businesses need to know
    what businesses need to know
  • what businesses need to know
    Rachel Reeves urged to boost R&D spending to…
  • what businesses need to know
    Business reaction to spring statement 2025
  • what businesses need to know
    Jobs axed at second-fastest pace since global…
ShareTweetSendPinShare
Previous Post

Coronation Street star Tina O’Brien ‘very proud’ as she reveals surprise connection to Adolescence teen Owen Cooper

Next Post

Amazon Big Spring Sale 2025: Best kitchen deals on Keurig, Ninja, and more

Next Post
Amazon Big Spring Sale 2025: Best kitchen deals on Keurig, Ninja, and more

Amazon Big Spring Sale 2025: Best kitchen deals on Keurig, Ninja, and more

Recommended

Trump tariffs sour opening of NYC candy store by Zabar scion

Trump tariffs sour opening of NYC candy store by Zabar scion

14 May 2025
Scariest airport in the world

Scariest airport in the world

1 May 2025
Ernie Accorsi knows the ‘concept’ dilemma Giants face with No. 3 pick

Ernie Accorsi knows the ‘concept’ dilemma Giants face with No. 3 pick

25 April 2025
Coleen Nolan regret following sister Bernie’s death: ‘I feel bad’

Coleen Nolan regret following sister Bernie’s death: ‘I feel bad’

24 April 2025
AI news recap: New Meta AI app, ChatGPT’s bad model behavior [May 2025]

AI news recap: New Meta AI app, ChatGPT’s bad model behavior [May 2025]

4 May 2025
European Press

European-press.com shares the latest news from Europe and around the world. It covers topics such as business, technology, sports, health, entertainment, and lifestyle. Feel free to get in touch with us!

Disclaimer  Privacy Policy – EU  Imprint 

Contact Us

What’s New Here!

  • Liberty not favored to repeat in WNBA’s GM survey
  • Croatia is pushing for Bosnia’s EU membership, PM Plenković tells Euronews
  • Single mom, influencer defends gender selection of new baby: ‘For me’
  • The Panasonic MultiShape drops to $170 in May 2025. It’s my favorite grooming tool.

Subscribe to Our Newsletter

Copyright 2025 © EUROPEAN PRESS All rights on our posts reserved!

Translate »
European Press
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behaviour or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
View preferences
{title} {title} {title}
No Result
View All Result
  • News
  • Business
  • Tech
  • Sport
  • Health
  • Entertainment
  • Lifestyle
  • Video

Copyright 2025 © EUROPEAN PRESS All rights on our posts reserved!

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
×