Rachel Reeves's Spring Statement breakdown: What you need to know - from DWP reform to spending cuts

How will you be impacted by Chancellor Rachel Reeves's Spring Statement?

Chancellor Rachel Reeves has unveiled multiple changes to the Labour Government's agenda for the economy in this afternoon's Spring Statement.

Reeves claimed that households in Britain will eventually be £500 better-off financially once her fiscal plan is finally implemented.

The Chancellor's statement came alongside the Office for Budget Responsibility's (OBR) forecast into gross domestic product (GDP) for the UK economy in 2025.

Here is a full summary of the fiscal policy changes announced by Rachel Reeves during her Spring Statement earlier today:

Multiple changes to the benefit system were reiterated by the Chancellor, notably to Universal Credit and Personal Independence Payment (PIP):

As well as cuts to the welfare state, the Chancellor outlined the latest projections for the economy from the Office for Budget Responsibility, including:

Reeves cited emerging new technologies as being part of the Government's plan to reduce the size of the civil service, which include:

In its forecast projections, the OBR gave an update as to how the Government is handling keeping to Rachel Reeves's strict spending rules, including:

The Government also gave an update on the state of defence spending, as the UK commits to its support for Ukraine: