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ARTICLE · 21 MARCH 2023

Spring Budget 2023 — Highlights

Weightmans LLP
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After presenting a Budget-in-all-but name with the Autumn Statement, the Spring Budget was delivered against the backdrop of a day of widespread industrial action.

United KingdomFamily and Matrimonial
Jonathan Shankland
Jonathan Shankland
Richard Bate
Richard Bate

After presenting a Budget-in-all-but name with the Autumn Statement, the Spring Budget was delivered against the backdrop of a day of widespread industrial action. The run-up to the event appeared deliberately downplayed, save for a late flurry of leaks highlighting a focus on childcare at one end of the scale and pensions at the other. While acknowledging the Prime Minister's two objectives of halving inflation and reducing debt, Mr Hunt focused his Spring Budget on the Prime Minister's third objective – getting the economy going.

In a wide-ranging and longer than usual speech, there were some key headline items:

  • The inflation rate is forecast by the Office for Budget Responsibility to fall from 10.1% (January 2023) to just 2.9% by the end of 2023.

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