Spring Budget 23: What to expect?

Jeremy Hunt to speak

Cristian Angeloni
clock • 2 min read

Chancellor of the Exchequer Jeremy Hunt is set to announce several reforms for pensions, childcare, energy, corporation tax and fuel duty in his Spring Budget later today (15 March).

Hunt is expected to focus his budget on halving inflation - which remains at a 40-year high of 10.1% - and introduce reforms in an attempt to boost economic growth. He will announce tax breaks for businesses, who will be able to offset investments in the UK to reduce their corporation tax bill. Corporation tax, on the other hand, is set to rise from 19% to 25% in April 2023, although there has been resistance on the future hike as many Tory MPs believe an increase could put companies off investing in the UK. This sentiment was shared by Brian McBride, president of the Confederation...

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