Chancellor Rachel Reeves will present her Spring Statement in Parliament to address the UK’s economic situation and outline financial measures aimed at improvement, following the October budget. Contrary to claims from Kemi Badenoch, this statement is not an emergency budget and does not introduce new policy changes. Reeves intends to reduce government operational costs by 15% and plans to eliminate approximately 10,000 civil service positions. Additionally, the UK Government will increase defense spending to 2.5% of GDP by 2027, while the aid budget will decrease from 0.5% to 0.3%.