Budget 2023 in full: UK will not enter recession this year says Jeremy Hunt

Chancellor Jeremy Hunt has delivered his Budget in the Commons.

In a major announcement, Hunt scraps the lifetime allowance on tax-free pension contributions, which is currently £1.07m.

Free childcare of 30 hours a week for working parents is being expanded to cover children from the age of nine months to two years old but will only be fully implemented by September 2025.

Fuel duty has been frozen for another year and government help with energy bills is being extended for another three months, until June.

Defence spending is being boosted by £11bn over the next five years and corporation tax will be increased from 19% to 25% as expected.

The economy is forecast to grow by 1.8% in 2024 and 2.5% in 2025, according to Office for Budget Responsibility forecasts.

Inflation is also forecast to fall from 10.7% last year to 2.9% by the end of this year
Labour's shadow chancellor Rachel Reeves says the Conservatives have overseen "13 years of economic mismanagement".

#rishisunak #budget #government

Subscribe to The Telegraph with our special offer: just £1 for 3 months. Start your free trial now:

[Mr.Haque]

The British government should cut the foreign budget and spend that money on British citizens.💷🇬🇧

[timothykings]

The most simplest thing to bring down inflation is to reduce physical(manufacturing, agriculture, and the consumer based industrys) industrys fuel and energy costs-this in turn would bring down prices on the shelves....

[tomlicen]

Me and my family are annoyed with people trying to have them snatched with bad intentions

[mastermal]

I’ll believe the tirade of bull coming from a politicians mouth when they actually do something to help the country

[tomlicen]

Remote eyes can cure the blind I don't know how sales fell

[charlesflouvat]

I've been trying harder, and working more hours, but there's still no turnips on the shelves 🤔

[charlesflouvat]

Of the 42 windfarms, how many are owned by England

[tomlicen]

A packet of ciggies should cost 2 pound we do t buy any thing but tabs

[tomlicen]

I am the tax payer I go to tax haven your county is poor in 30 years

[huseyinaltun]

They just gave a big pay to themselves...

[MrGieltedze]

one of the largest support in Europe. That is because it is needed. Poor beggars.

[charlesflouvat]

Why didn't we have adequate stocks of PPE, Jeremy.

[sergeantmajorzero]

Has he not seen the LSE today? Banks are in turmoil because of contagion from US bank failures. Trading suspended on BNP Paribas and Credit Suisse.

[charlesflouvat]

John Cooper Clark, Beasley street, 🤔.

[mothermovementa]

Nuclear is green and nuclear reactions happen naturally in the crust and the waste didn’t move

[mikerobb]

all good news nah! dont beleive them wont vote for them

[AlanHerbert-bgtz]

Spell his name correctly starts with C not H

[chirushetty]

Loved the free Childcare announcement. Amazing would be very helpful. I think all women will benefit from it. nice work. especially going to be a new father.

[charlesflouvat]

It's a mean old scene, All Saints road, Bradford, 🤔

[johnnorris]

One step beyond.
Where Angels never tread.
The bullet of doom and the party’s end
Nutty men playing over the airwaves..
The drummer of greed lozenged.