The Spring Statement (formerly known as the Spring Budget) is an annual statement made by the Chancellor of the Exchequer (the UK's finance minister) to the House of Commons, in which they provide an update on the state of the economy and outline any changes to the government's economic policy. The Spring Statement is typically less detailed and less significant than the Autumn Budget, which is the main budget of the year.

The Spring Statement is typically used to update the public and the parliament on the government's plans for taxes and public spending, to report on the progress of the government's previous budget measures, and to make any necessary technical adjustments to the tax system. It also serves as an opportunity for the Chancellor to provide an update on the state of the economy and any economic forecasts, as well as any international economic developments.

The Spring Statement is also a good time for the Chancellor to present major policy proposals or legislative changes that are not tax-related or not major enough to be covered in the Autumn Budget.

It's worth noting that, in recent years, the Spring statement has lost its significance as the Chancellor of the Exchequer has started to provide major updates on the budget and economic policy during the Autumn statement, while keeping the Spring statement as a minor statement, with limited tax changes.