Spring Forecast Report 2026
Spring Forecast Commentary: General and Sector-Specific
General Commentary
Anisha Chawla warns that while a quieter Spring Statement may steady markets in the short term, a ‘say nothing now’ approach – particularly if it simply delays difficult decisions – will not rebuild confidence without a clear and credible long-term plan:
“A measured and low-key Spring Statement is exactly what the UK needs after months of turbulence and policy reversals. British businesses will value any sense of consistency, particularly against a continued backdrop of global uncertainty. This sense of predictability is essential if the UK is to retain talent, attract investment and ensure opportunities are not lost to more competitive and reliable markets overseas.
But stability cannot become a ‘say nothing now and revisit it later’ strategy. Businesses are not looking for difficult decisions to be quietly deferred in the hope they avoid scrutiny – they are looking for certainty and direction. Silence alone will not rebuild confidence. Recent increases in National Insurance contributions and an inflated tax burden have placed significant strain on Britain’s businesses, especially smaller firms. Without a clear and consistent growth strategy, confidence will remain fragile, and investment and planning will continue to stall.
Growth is subdued, inflationary pressures persist, and the cost of living continues to weigh heavily on households. At the same time, higher energy prices and softer consumer demand are adding further strain across the economy. Businesses need reassurance that there will be no further unexpected tax changes or spending commitments that could disrupt planning and investment.
Repeated revisions to proposed tax measures – particularly around areas such as Business Property Relief and pensions – have created uncertainty for those trying to plan responsibly for succession and retirement. Announcements followed by amendments or clarifications risk prompting premature decisions that may later prove counterproductive, leaving business owners and individuals unsure how best to proceed.
If the government is serious about restoring confidence, it must adopt a more measured and consultative approach to tax and pensions reform. Only then will businesses and individuals have the clarity and stability they need to plan, invest and grow.”