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
We’re proud to share that TBAT Innovation has successfully completed an extraordinary coast-to-coast cycling challenge across the Scottish Highlands. The ride was undertaken to raise awareness and vital funds for Stand Against MND, a charity founded by our late colleague, Sam Perkins.
TBAT Innovation has been named the winner of the Innovation in Service Delivery Award at the prestigious Medilink Midlands Business Awards 2025. The award, sponsored by Datalink Electronics, recognises TBAT Innovation’s impactful Innovation Challenge – a flagship initiative supporting innovation-driven UK SMEs.
Assists organisations in accessing research and development grant funding across a range of UK and EU schemes and industry sectors.
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