Spring Budget 2021: Sunak adds £65bn of support as OBR cuts growth forecast

Chancellor promises 'whatever it takes'

Mike Sheen
clock
The Chancellor confirmed a £5bn restart grant to help businesses continue to trade as they come out of lockdown
Image:

The Chancellor confirmed a £5bn restart grant to help businesses continue to trade as they come out of lockdown

Chancellor Rishi Sunak provided an additional £65bn of fiscal support in today’s (3 March) Spring Budget, promising the UK Government will do "whatever it takes" to support the UK economy, which is expected to bounce back more slowly than expected this year.

The Office for National Statistics (ONS) revealed that it now expects the UK economy to grow by 4% in 2021, down from the 5.5% forecast in November, with GDP growth of 7.3%, 1.7%, 1.6% and 1.7% in the...

To continue reading this article...

Join Investment week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space

  • Get ahead of regulatory and technological changes affecting fund management

  • Important and breaking news stories selected by the editors delivered straight to your inbox each day

  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts

  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Economics

63% of investors said that UK markets were attractive compared to just 45% of companies
UK

Half of investors think attractiveness of UK markets has improved but companies show less enthusiasm

30% of companies agree it has improved

Nafeesa Zaman
clock 26 January 2022 • 3 min read
The mining sector provided more than a third of the total special dividends, contributing £6bn from just six companies.
UK

UK dividends rebound 46% in 2021 but remain below pre-covid level

Heavy reliance on miners

James Baxter-Derrington
clock 24 January 2022 • 3 min read
The proportion of retail sales online has risen to 26.6%
UK

UK retail sales plummet in December as Omicron sweeps nation

Six times greater than predicted

clock 21 January 2022 • 1 min read
Trustpilot