Susanna Reid shared an update on the economy ahead of the Spring Statement in a ‘breaking news’ segment on Good Morning Britain

Wednesday’s (26 March) episode of Good Morning Britain was interrupted by a breaking news update from Susanna Reid.

Co-hosting with Richard Madeley, Susanna shared an economic update with GMB viewers ahead of the government’s Spring Statement due later in the day.

She announced that inflation had dropped by 0.2 per cent in February, stating: “Our breaking news this morning, good news for the Chancellor perhaps. The cost of living fell last month, according to official figures released in the last few minutes. Inflation went down by 0.2 per cent in February.”

However, she noted that it still stands at 2.8 per cent, a rate well above the Bank of England’s 2 per cent target for inflation.

Richard then discussed predictions of welfare cuts in Rachel Reeves’ eagerly awaited Spring Statement, set to be unveiled around 12.30pm on Wednesday, 26 March, with coverage on ITV News.

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Richard Madeley and Susanna Reid on Good Morning Britain (Image: ITV)

They then introduced ITV political correspondent Louisa James, who provided further analysis of the figures and offered insights into the Chancellor’s forthcoming mini budget, reports the Manchester Even

Louisa commented: “That is one of many challenges for Rachel Reeves today. Those inflation figures that we’ve just had, although they’ve come down, are still much higher than she would like them to be.”

She added: “They are part of the reason that we believe she is going to have less money to play with than she planned.”

She continued, highlighting the financial challenge ahead: “In fact, it is thought that Rachel Reeves has got to fill a £15 billion hole, in order to balance the books and leave herself some wriggle room. How she decides to do that is going to impact all of us in some way.”

Louisa James had the latest political news for GMB viewers(Image: ITV)

Louisa broke down the expected savings, noting that Rachel was banking on benefit reductions to claw back £5 billion, with a further £2.2 billion anticipated from trimming the civil service.

Yet, she disclosed a revelation from ITV News, which suggested that the projected savings from welfare cuts would actually amount to just £3.4 billion.

This shortfall could lead Rachel to declare a freeze on Universal Credit incapacity benefits, preventing them from rising with inflation until 2030, alongside a reduction in the basic Universal Credit rate in 2029.

“Both of which will come as more bad news to those affected,” Louisa reported on her Good Morning Britain segment.