Although the Chancellor has promised no big new policy changes this week, the Resolution Foundation notes that a few significant changes come into effect in the coming weeks, such as the increase in the National Living Wage to £7.83 and a benefits freeze for 11 million working age families.
"The Chancellor has said he plans to soak up the sunnier economic outlook next week, rather than make any policy announcements. But significant policy changes are still coming in just a few weeks’ time – with a pay rise for the lowest earners but a further squeeze on the living standards of low-income working families, driven by the freeze in working age benefits," he added.
"While the Chancellor is firmly committed to a short Spring Statement the challenges Britain faces, from weak growth to tight family finances, are likely to remain long lasting."
The Chancellor is expected to deliver his speech at around 12.30pm on Tuesday 13 March.
