No free lunch for consumers: What to expect from the Spring Statement

Chancellor might ‘splash some cash’

The Chancellor’s Spring Statement will not be “a free lunch of giveaways”, although the cost-of-living crisis and upcoming council elections is likely to encourage “more generosity than usual”, according to several industry commentators.

Chancellor Rishi Sunak is due to deliver his Spring Statement tomorrow (23 March), at a time when rising food and energy prices is putting pressure on household finances. "The Spring Statement should be viewed as part of a fiscal-monetary policy ‘double act' which, so far, has buoyed asset prices with huge spending and very low interest rates," said Mike Coop, chief investment officer at Morningstar Investment Management. Higher food prices expected as war in Ukraine adds strain to supply chains He added that despite the government's "loss of popularity", looming council elections,...