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Evening Standard
Evening Standard
Politics
Rachael Burford

Spring Statement 2026: UK growth forecast slashed as unemployment set to peak with young people hit hardest

Rachel Reeves Unemployment United Kingdom Britain the Office for Budget Responsibility

Britain’s growth forecast has been slashed for this year as employment rates are set to peak, Rachel Reeves has revealed.

Delivering her spring statement on Tuesday, the Chancellor insisted she had the “right economic plan” for the UK despite the budget watchdog cutting its forecast for growth in 2026.

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