Transactional Tax Planning Partner Charlotte Sallabank was quoted by Morningstar and other media outlets regarding the UK government's Spring Statement, to be delivered on March 3, and whether Chancellor Rachel Reeves will raise taxes on that date. After last year's Autumn Budget increased UK taxes to a new high, bond investors will be hoping the Spring Statement will be a "market non-event," Morningstar reported.
Charlotte commented that Reeves is likely to play it safe this time. "While theoretically the chancellor has room to make 'minor' tax changes, it is questionable whether any tax changes resulting in an increase in tax rates or further cuts to reliefs would be seen as 'minor,'" she said. "She is [therefore] unlikely to risk political and public outcry by making any allegedly minor changes that are in reality stealth tax changes that increase the tax burden on taxpayers."
"There may, however, be changes announced in respect of tax administration and anti-avoidance, and changes to encourage certain behaviors, such as new or increased tax incentives or reliefs for investment and growth in certain sectors," Charlotte added. "However, this is all dependent on what the OBR forecast figures show — if they are severely adverse, 'major' fiscal changes could occur."
"Will Rachel Reeves Raise Taxes? Key Questions Ahead of the Spring Statement," Morningstar, February 23, 2026
"Spring Statement 2026: When is it and what might be in it?" HomeOwners Alliance, February 25, 2026
"What's in today's Spring Statement for the housing market?" The Negotiator, March 3, 2026
London
