Ian Davie
Senior Consultant
The Office for Budget Responsibility (OBR) has published its latest forecast for the UK economy, highlighting key financial concerns and policy challenges. With a public finance deficit of £22 billion and planned National Insurance Contribution (NIC) increases to 15% in April 2025, the government faces significant economic hurdles.
With the multi-year spending review concluding in June, the government must decide whether to delay corrective measures until August or act now through spending cuts and revenue-raising strategies. Options on the table include:
Chancellor Rachel Reeves has reaffirmed her commitment not to borrow for day-to-day spending and to ensure debt falls as a share of national income by the end of this Parliament. With borrowing costs rising and economic uncertainty growing, the government’s policy decisions in the coming months will be critical to stabilising the economy and restoring business confidence.
Read the UK Parliament Spring Statement 2025 Background Briefing
The TBAT Innovation Challenge 2025 came to an exciting close with a dynamic showcase featuring some of the UK’s most forward-thinking and driven SMEs. A&B Smart Materials was crowned the overall winner for their pioneering work in developing bio-based Super Absorbent Polymers. Read our article for our full details of our Finalist Showcase.
TBAT Innovation has officially joined the Dains Group, one of the UK’s fastest-growing accountancy and advisory firms. This marks a significant step forward in expanding TBAT’s nationwide delivery of R&D tax incentives, grant funding, and innovation consultancy services. Backed by the scale and strength of the Dains Group, TBAT is now even better positioned to help innovative businesses across the UK access the funding and support they need.
Assists organisations in accessing research and development grant funding across a range of UK and EU schemes and industry sectors.
Get In Touch