Spring Statement LIVE: Rachel Reeves to ship main replace on economic system
Rachel Reeves will argue her economic plan is paying off for working people as she unveils her Spring Statement.
The Chancellor is expected to deliver a confident update to Parliament on the state of the economy, designed to project stability after the chaos of the Budget in November.
In an update not expected to include new policy, Ms Reeves will say the Government is building a strong and secure economy in the face of global turbulence.
Ms Reeves will also offer a rallying call to Labour MPs, urging them to hold their nerve following a devastating by-election defeat in Gorton and Denton on Friday, where the Greens seized victory and Labour was relegated to third place.
Follow below for live updates…
Rachel Reeves’ life before Parliament
Before the Spring Statement, here’s a reminder about who the Chancellir is, and where she’s come from.
Rachel Reeves to promise ‘stability’ in Spring Statement
Ms Reeves will tell MPs Labour’s plan is working, and growth will come in all parts of the UK.
The Chancellor will say: “This Government has the right economic plan for our country… in a world that has become yet more uncertain. Stability in the public finances, investment in infrastructure and reform to our economy.
“Building growth not on the contribution of a few people or a few parts of the country, but in every part of Britain with a state that doesn’t stand back, but steps up.”
What will be in the Spring Statement
Rachel Reeves is expected to make a show of “defiance” in the Spring Statement as the Government seeks to move past it by-election drubbing.
Here are the details of what we are expecting.
Rachel Reeves to deliver Spring Statement
The Chancellor is set to deliver the Spring Statement shortly after midday, where she’ll tell MPs Labour’s plan is working.
Ms Reeves is not expected to include new policy, but instead lay out how the changes made by the Government are already boosting the economy and benefitting hard-working people.
