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Spring Statement: Rachel Reeves says 2025 growth forecast halved

Rachel Reeves delivering the Spring Statement (Credit: Parliament TV)

Rachel Reeves delivered some bad news in her Spring Statement: the UK’s growth forecast has been halved to 1 per cent for 2025. But the Chancellor revealed that the Office for Budget Responsibility has upgraded its longer-term growth estimates from 2026. Reeves also announced a benefits shake-up and a crackdown on tax avoidance. Here’s how it unfolded on our live blog:

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