Spring Statement 2022: intense pressure for urgent action

Written by


Carrie Lowe

Published


The intersection of international and domestic affairs, alongside government policy and private sector interests, has become more significant than ever.

As the devastation in Ukraine continues to unfold, the full impact for the country and its people remains unknown – but touches all our lives.

In the UK, we look towards the Chancellor’s Spring Statement tomorrow with new intent. Treasury has faced mounting pressure over recent weeks to take direct action to mitigate the twin-tracking energy and cost-of-living crises. The two continue to grow, heralding worse-still times for the most vulnerable in our society and pushing many more people into daily poverty.

In response, Mr Sunak has made it clear that this year’s Spring Statement is exactly that: a statement and not a spending review. As such it will bring a greater focus on realignment of funding, rather than any significant new allocations, and no reversal or revision of previous announcements.

Nevertheless, in these starkly unusual times, the Chancellor has it in his power to do more than following the usual procedure of providing spending updates, progress reports on the headlines from his preceding Autumn Budget, and introducing smaller policies and pledges. With his stated focus on ensuring that “the money we’re spending is spent really well”, there is still potential for him to take forward a Spring Statement that promises some respite and hope, even in these darkest of times.

 

Download our Briefing on Speculated Announcements 

 

If you would like to speak to us about the Spring Statement, please contact Carrie Lowe.

Subscribe.

Please complete the form below to receive the latest news, events and information from Cavendish.

Name

Make your voice
make a difference.