This Practice Note draws together content on the following fiscal events: • Spring Statement 2025, which took place on 26 March 2025 • Tax update spring 2025, which took place on 28 April 2025 • Spending Review 2025, which took place on 11 June 2025 • Legislation Day 2025, which took place on 21 July 2025 • Budget 2025, which took place on 26 November 2025 • the introduction of Finance Bill 2026, also known as Finance Bill 2025–26 and Finance (No 2) Bill 2024–26 (FB 2026), to Parliament on 2 December 2025 and its enactment as Finance Act 2026 (FA 2026) on 18 March 2026, and • the introduction of the National Insurance Contributions (Employer Pensions Contributions) Bill to Parliament on 4 December 2025 For more information on the Budget and Finance Bill processes, as well as the fiscal timetable more generally, see Practice Note: The Budget and Finance Bill process. Spring Statement 2025 On 26 March 2025, the Chancellor of the Exchequer, Rachel Reeves MP, presented the Spring Statement 2025 to Parliament. The government