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Rachel Reeves' spring statement leaves her to fight another day - but better news could soon fall victim to global events

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03.03.2026

Just four months ago, we were starting Rachel Reeves' latest economic update with the leak of the entire thing from the Office for Budget Responsibility before she had even stood up.

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But today there were no surprises - rabbits, policies, leaks or otherwise.

As with any economic update from the government, the Chancellor uses her statement  (usually before the actual numbers come out) to set their stall out first and put their shine on what's normally a very difficult set of circumstances.

If governing were easy, everyone would do it, right?

There were a few glimmers of good economic news to point to today.

Inflation's down - for now - and will hit the Bank of England's target for next year. More slowing of cost-of-living pressures - finally.

Debt will be down overall across the parliament, though it will be ticking up slightly for the next few years.

Borrowing is looking a little better too - down in the coming years and this year dropping by £6billion alone.

Reeves is having no such row about meeting her fiscal rules today as she's managed to increase her........

© LBC