IfG publishes main takeaways from the Spring Statement 2022

Article summary

The Institute for Government (IfG) has published its main takeaways from the Spring Statement 2022. Before the statement, the IfG set out six things that it was looking out for in the Chancellor’s announcement, of which the IfG has now reacted to. This included how the economic and fiscal outlook changed in the short and medium term, how bad the OBR expect the cost of living crisis to be, how (if at all) the chancellor will cushion the blow for households and businesses, beyond the immediate ‘crisis response’, how the chancellor will use the war in Ukraine to set out measures to incentivise the net zero transition, how the war in Ukraine and higher inflation affect the chancellor’s spending plans and whether the government will maintain the momentum behind its ‘levelling up’ agenda with new commitments.