Rachel Reeves is poised to present her eagerly-awaited Spring Statement today, amid growing fears of significant public service cuts.

The Chancellor is predicted to argue that the global landscape has changed since she delivered the first Labour Budget in nearly 15 years back in October 2024, defending an increase in defence spending to counter Russian aggression. However, with the Office for Budget Responsibility (OBR) watchdog likely to reveal grim growth forecasts, Ms Reeves will be confronted with difficult decisions as she attempts to balance the budget.

Spring Statement 2025 predictions - from benefit cuts to tax plans - have your say!

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