Press Story

Responding to the Spring Statement, Harry Quilter-Pinner, IPPR executive director, said:

“The Spring Statement delivered what many expected: a slight adjustment to the economic forecast, not a major fiscal reset. With less than 100 days since the last event, there were no dramatic revisions, and the Chancellor’s decision to double headroom has done its job, cushioning small forecast changes without forcing tax rises or spending cuts.

“But lower net migration poses a medium-term risk to public finances, while renewed conflict in the Middle East risks pushing up energy prices and adding to inflationary strain on households and businesses.

“The real test now is not short-term headroom but building on the economic momentum. The Spring Statement has bought the government space, it must now use it. That means doing even more on industrial strategy beyond energy, such as in defence and advanced manufacturing, and doubling down on a ‘war on bills’ to tackle the cost-of-living crisis.”

ENDS

IPPR experts are available for interview, including:

Professor Ashwin Kumar: Ashwin is director of research and policy at IPPR. He was previously an economic advisor to Gordon Brown, chief economist at the Joseph Rowntree Foundation and a senior economic advisor at the Department for Work and Pensions.
Carsten Jung: Carsten is associate director at IPPR. Before joining IPPR, Carsten worked at the Bank of England for six years, and prior to that he worked at the IMF.
Rachael Henry: Rachael is head of advocacy at IPPR, leading on IPPR’s relationships with the Treasury and No10. Previously, Rachael worked at UNISON, Tax Justice UK and The Children’s Society.
Harry Quilter-Pinner: Harry is the executive director at IPPR and a frequent commentator on TV and radio. He is widely recognised as one of the most influential figures shaping government policy outside of the Labour Party.

CONTACT

Liam Evans, head of news and media: 07419 365 334 l.evans@ippr.org

NOTES TO EDITORS

IPPR is the UK’s most influential think tank, with dozens of alumni in Downing Street, the cabinet and parliament. We are the ideas factory behind many of the current government’s flagship policies, including changes to fiscal rules, the creation of a National Wealth Fund, GB Energy, devolution, and reforms to the NHS. IPPR is an independent charity which has seconded staff to government departments including DHSC and DESNZ to support ministers on crucial policies such as the 10-year health plan and the industrial strategy: www.ippr.org