In the UK, further spending cuts from Reeves are expected to be announced.

Foreks - UK Finance Minister Rachel Reeves is expected to announce billions of pounds in spending cuts as a way to address the budget deficit caused by rising borrowing costs since her initial financial plan was unveiled last autumn. Minister Reeves pledged to adhere to her "fiscal rules" established during the "Autumn Budget" last October, which include ensuring daily expenditures are met by tax revenues and reducing the ratio of public debt to economic output by 2029-30.

The Spring Statement, set to be presented by the Minister at 12:30 PM London time, will coincide with the latest economic forecasts from the Office for Budget Responsibility (OBR), the country’s independent fiscal watchdog. As OBR is expected to lower its UK growth forecasts for 2025, halving the previous 2% prediction, it is reported that lower production will exert upward pressure on government borrowing requirements, compelling Reeves to cut public spending by approximately £10 billion. The Treasury indicated that Reeves will promise "security and national renewal" in her Spring Statement, which aims to "kickstart economic growth, protect working people, and keep our country safe."