Summary of the Spring Budget 2023

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Author: Ruth Potter

Published: March 2023

Chancellor Jeremy Hunt delivered a ‘Budget for Growth’ after the Office for Budget Responsibility forecast a stronger than expected performance from the UK economy this year with inflation continuing to fall. 

The announcement largely focused on tackling three priorities set out by the Prime Minister in January: 

  • to halve inflation;
  • grow the economy; and
  • reduce debt.

The following report summarises new variations in the UK tax rates, allowances, reliefs and other matters of interest.

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