The Chancellor of the Exchequer, Rt Hon Rachel Reeves MP, today delivered the government’s Spring Statement.

Our briefing outlines the key policy announcements and an overview of the Office for Budget Responsibility’s growth forecast for 2025, along with our press statement.

During her speech, Ms Reeves noted the ongoing challenges in the economy, attributed to the £22bn gap in public finances and international challenges, with heightened uncertainty in global markets. Tackling these requires some course correction, and she reiterated that this was being done with no tax increases on working people and with continued investment in public services.

The key announcements for health and care include:

• The abolition of NHS England, which will ensure the money saved goes directly to improving services for patients.
• A £3.25 billion Transformation Fund to drive fundamental reforms in public services. This fund will harness the power of digital technology and artificial intelligence (AI) to enhance frontline delivery and generate long-term savings for taxpayers.
• The welfare package announced by government, which will reduce welfare spending by £4.8 billion in 2029/30.