Spring Statement 2025 affects contractors in potentially numerous ways – with ten devils in the detail, but it didn’t live up to its billing.
How are Spring Statement experts who didn’t respond responding?
Rachel Reeves’s second fiscal statement was such a damp squib that:
- · a technical tax officer told ContractorUK they were too “underwhelmed” to comment.
- · a senior employment law partner asked ContractorUK, “Have I missed something?”
- · an agency boss told ContractorUK that the chancellor’s speech sent them into a “dream” of IR35 reform being repealed.
How long was Spring Statement 2025?
The extremely short duration of Reeves’s statement – just over 33 minutes – is partly behind the feeling of underwhelm.
For context, the longest UK Budget speeches have been over four hours, and the shortest (until now) was 45 minutes (Disraeli, 1867).
Why was Spring Statement 2025 so short?
Yesterday, Reeves reiterated to MPs Labour’s commitment to “deliver just one major fiscal event a year.”
Spring Statement 2025 is the first “Spring Forecast” -- as officials are trying to rebrand it, to seemingly ‘go light’ to help achieve that commitment.
Further explaining its brevity, Spring Statement 2025 “does not contain any further tax increases,” the chancellor said in her speech.
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The Bowers Partnership Limited