Navigating Uncertainty: What the Spring Statement Means for UK CFOs 

In a special edition of the CFO Playbook podcast [Navigating the Spring Statement: What Next for UK Business?], journalist and broadcaster David McClelland [Technology Journalist & Television Presenter | David McClelland ] was joined by Baroness Ayesha Hazarika MBE, former CFO of ASOS Helen Ashton, and Sigma Sports CFO Oli Lawson to examine the impact of the UK Chancellor’s Spring Statement. Against a backdrop of global volatility and domestic fiscal pressure, the panel explored what the Spring Statement means for finance leaders trying to plan, invest, and drive growth. 

Resilience First, Growth Second 

Baroness Ayesha Hazarika opened the discussion by framing the Spring Statement as a moment of continuity rather than major change. While the government’s key growth initiatives — focused on planning reform, skills investment, and infrastructure — were reaffirmed, the overall economic climate remains tough. Increased defence spending was the notable new announcement, but for businesses, the statement did not deliver significant immediate relief. 

Instead, businesses must navigate a landscape where government support for growth is evident but constrained by tight fiscal conditions.  

The Business View: Clarity, But Not Confidence 

From the business frontlines, Helen Ashton and Oli Lawson shared a pragmatic view. While the Autumn budget provided clarity, the Spring Statement simply reaffirmed it — and that clarity, said Oli, has not yet translated into business confidence. 

Higher national insurance costs, wage increases, and operational pressures are still weighing heavily on organisations, especially in consumer sectors. Helen noted that the cost increases from the Autumn Budget are only now being fully felt, and businesses are under pressure to adapt through efficiency, automation, and AI — even while investing in these areas becomes harder. 

Global Trade Tensions: A New Layer of Complexity 

The discussion also tackled global risks. Recent US tariff announcements and ongoing geopolitical tensions are creating a moving target for businesses with international supply chains. Both Helen and Oli highlighted the challenges of planning amid shifting trade dynamics, describing it as “like trying to pin jelly to a wall.” 

While businesses can control their internal operations, external shocks are harder to mitigate. Oli emphasised the importance of careful supplier engagement and strategic flexibility: “It is about gathering information, understanding the landscape— and being cautious not to make knee-jerk reactions.” 

Looking Ahead: Opportunities for Finance Leaders 

Despite the challenges, the panel identified opportunities for finance leaders. Helen argued that finance teams are better positioned than ever to lead businesses through uncertainty — by combining robust forecasting, scenario planning, and a proactive approach to risk management. 

“Finance professionals have a real opportunity to help businesses rebuild confidence,” she said. “I suspect the world is going to continue to change — and we need to help companies to invest and grow.” 

Oli added that fostering innovation and entrepreneurship must be central to any long-term growth strategy. “Growth comes from people making decisions. We need to incentivise those people to take those decisions to ensure the UK remains an attractive place for businesses.” 

Conclusion: Partnership, Planning, and Patience 

The consensus was clear: while the Spring Statement offers some important signals, the path to sustainable growth will be slow and complex. Both government and businesses must work in partnership, recognising that planning reform, investment in skills, and support for innovation are critical. 

“While everybody wants growth, you can’t just pull a lever to get growth,” Ayesha concluded. “It takes time and will take a team effort — between government, businesses, and citizens” 

For CFOs, the mission is clear: stay agile, stay informed, and lead with confidence through the uncertainty ahead. our workflow, and gain better financial oversight, empowering your team to focus on growth, not paperwork.