Chancellor Rachel Reeves says the 2025 growth estimate for the UK has been halved to 1% from 2% by the government’s official forecaster, the Office for Budget Responsibility (OBR)

Washington is lifting sanctions on Moscow for the first time in over three years, indicating a significant shift towards US-Russia rapprochement under Donald Trump.

Happy Wednesday – and most importantly, Happy Spring Statement Day! Today, Chancellor Rachel Reeves will set out her plans for the UK economy for the next year, presenting her budget plans to the Commons at 12:30. 

The chancellor is set to introduce significant changes aimed at balancing the UK’s public finances amidst economic uncertainty. Spending cuts are expected to be the main focus, with charities urging the government not to hit the poorest the hardest. 

There are continued reactions to the news that top Trump official Mike Walz accidentally added a journalist to a group chat where top US officials were discussing plans to bomb Yemen. 

The journalist leaked the messages, with the content from those messages leading headlines around the world. The major security blunder has led to questions in the US over Trump’s team and their lax approach to security. 

The content of the messages revealed what most of Europe already knew – the United States hates Europe, calling the continent ‘pathetic’ and ‘free loaders.’

What can we expect in the Spring Statement 2025? – Wednesday’s Spring Statement, set to be announced by the chancellor this afternoon, dominates much of the UK news this morning. There is continued speculation over how severe the chancellor’s cuts to public spending will be amid promises that she is hunting growth for the UK economy. 

The latest UK inflation figures are set to be released this morning, ahead of the chancellor’s statement, which will be delivered at 12:30 in the Commons.

Elsewhere, Prince Harry has stepped down from his role at the charity he co-founded after a row between the trustees and the chair of its board. 

On the international front, the ongoing fallout with the Trump administration after the Yemen bombing plans were accidently shared with a journalist and there’s extensive coverage of the devastating wildfires sweeping South Korea, having already killed 18 people.

The rollout of assisted dying legislation in England and Wales has been postponed, now expected to take place no earlier than 2029 due to a four-year extension proposed by MPs.