Spring Statement 2025: Background briefing
Ahead of the 2025 Spring Statement on 26 March, this briefing explains what will happen on the day and summarises the economic situation.

Hypothecation is the term used to describe the process of assigning tax revenues to a specific end, or - in certain cases - ensuring that they are not spent on one particular end. This note looks at the case that has been made for hypothecated taxation, before looking at a number of areas where its potential use has been discussed and the very limited way it has featured to date in the UK tax system.
Hypothecated taxation (141 KB , PDF)
Hypothecated taxation (141 KB , PDF)
Ahead of the 2025 Spring Statement on 26 March, this briefing explains what will happen on the day and summarises the economic situation.
In the 2024 Autumn Budget the Chancellor announced the introduction of VAT on private school fees from 1 January 2025. This briefing discusses the background to the government's decision and the legislation to bring it into effect.
Construction work to repair buildings, including historic churches, is charged VAT at the 20% standard rate. The Listed Places of Worship Grant Scheme provides grants to mitigate the VAT costs for these repairs.