2023 Spring BudgetMar. 16, 2023, 5:22pm
Chancellor Jeremy Hunt delivered the 2023 Spring Budget on Wednesday 15 March 2023.
Summary of the Chancellor’s 2023 Spring Budget
The government’s executive summary of the budget boldly recalls the difficult decisions taken to restore economic stability in the 2022 Autumn statement to lay a foundation for long-term growth. The 2023 Spring Budget is billed as building on this foundation, and delivering on three of the Prime Minister’s five key priorities, namely:
- to halve inflation
- grow the economy; and
- get debt falling.
The main headlines arising from the Chancellor’s speech centred on changes to pension contributions, the rise in the rate of Corporation tax, and the expansion of free childcare. Our summary of the Chancellor’s Spring Budget is now available – click here to download it.
Within our summary of the 2023 Spring Budget we have included informative comments to help you assess the likely effect that the proposed changes may have on you personally and their significance. In addition, we provide an outline of the main areas of taxation covered in the Spring Budget. We have included our observations on the more significant changes, together with any planning points that may arise.