What is the autumn statement?

The Autumn Statement was the Chancellor's autumn update on the economy and public finances, used when the main Budget was held in spring. Since 2024 the main Budget has moved to the autumn, so the autumn event is now called the Autumn Budget. The next is on 28 October 2026.

For many years the UK had two fiscal events. The Budget, in spring, set taxes. The Autumn Statement, or earlier the Pre-Budget Report, updated forecasts and spending plans. In practice, Autumn Statements often contained big tax changes too, so the line between them blurred. The last Autumn Statement was in November 2023. Chancellors used them to set the political agenda for the following year.

Since October 2024 the main Budget has been held in the autumn, with a spring statement used mainly to update the forecasts. The government says one major event a year gives households and businesses more stability. The Office for Budget Responsibility still publishes two forecasts a year, one alongside each event. Businesses had long called for fewer fiscal events and more stable tax policy.

People still search for the Autumn Statement because the name was used for years. Today the right term is the Autumn Budget. The Autumn Budget 2026 is due on Wednesday 28 October 2026. It will include an OBR forecast and is expected to set tax and spending decisions for the following year. Spending plans for departments are often set separately in spending reviews.

• Sets taxes in the Budget
• Agrees each department's spending
• Manages government borrowing
• Oversees banks and financial regulation
• Sets fiscal rules

Budget: Under £1bn for the department itself, but it decides how about £1.3 trillion of public money is spent. Staff: About 2,000

What it runs or funds

HM Revenue and Customs, UK Debt Management Office, Office for Budget Responsibility (independent), National Savings and Investments, Royal Mint

Did you know? Officially the PM is First Lord of the Treasury, which is why No 10 has that title on its letterbox.