Fiscal headroom
Impact of shifts in financial markets on fiscal headroom in 2029-30
Headroom forecast at
spring statement 2026
£23.6bn
-13.8
Higher debt interest
+3.2
Higher equity prices
-5.1
Lower growth
+8.5
Inflation and wages
+0.8
Higher energy taxes
-4.7
Impact of lower migration
£12.4bn
Updated headroom
Headroom forecast at
spring statement 2026
£23.6bn
-13.8
Higher debt interest
+3.2
Higher equity prices
-5.1
Lower growth
+8.5
Inflation and wages
+0.8
Higher energy taxes
-4.7
Impact of lower migration
£12.4bn
Updated headroom
Headroom forecast at
spring statement 2026
£23.6bn
Higher debt interest
-13.8
Higher equity prices
+3.2
Lower growth
-5.1
Inflation and wages
+8.5
Higher energy taxes
+0.8
Impact of lower migration
-4.7
£12.4bn
Updated headroom
Headroom forecast at
spring statement 2026
£23.6bn
Higher debt interest
-13.8
Higher equity prices
+3.2
Lower growth
-5.1
Inflation and wages
+8.5
Higher energy taxes
+0.8
Impact of lower migration
-4.7
£12.4bn
Updated headroom
Headroom forecast at
spring statement 2026
£23.6bn
-13.8
Higher debt interest
+3.2
Higher equity prices
-5.1
Lower growth
+8.5
Inflation and wages
+0.8
Higher energy taxes
-4.7
Impact of lower migration
£12.4bn
Updated headroom
Headroom forecast at
spring statement 2026
£23.6bn
-13.8
Higher debt interest
+3.2
Higher equity prices
-5.1
Lower growth
+8.5
Inflation and wages
+0.8
Higher energy taxes
-4.7
Impact of lower migration
£12.4bn
Updated headroom
Headroom forecast at
spring statement 2026
£23.6bn
Higher debt interest
-13.8
Higher equity prices
+3.2
Lower growth
-5.1
Inflation and wages
+8.5
Higher energy taxes
+0.8
Impact of lower migration
-4.7
£12.4bn
Updated headroom
Headroom forecast at
spring statement 2026
£23.6bn
Higher debt interest
-13.8
Higher equity prices
+3.2
Lower growth
-5.1
Inflation and wages
+8.5
Higher energy taxes
+0.8
Impact of lower migration
-4.7
£12.4bn
Updated headroom