Spring Statement 2026

Commenting on today’s Spring Statement, William Marshall, Chief Investment Officer, Hymans Robertson Investment Services (HRIS) says:

Ahead of the speech, Advisers will have noted that gilt yields have increased over the last few days. For many of their clients, the events in Middle East would have been the focus over what the Chancellor intended to say today. As such, the gilt market was little moved by the Chancellor’s speech. The headroom against the fiscal rules has increased, but a lot of this would have come from the fall in gilt yields that we have seen over the months since the 2025 Autumn Budget. Much of this will therefore have been reversed, given the market moves seen over the last couple of days.

With the developing Middle East situation, the Chancellor will have a lot to manage between now and this year’s Autumn Statement. We’ll likely see continued turbulence in the markets and Advisers’ clients will probably want a lot of assurances. Now’s the time to focus on fixing the roof while the sun shines, concentrating on long-term strategic decisions has never been more important. Insightful and regular communication will be key for helping investors to hold their nerve as we navigate the coming months.