Chancellor Jeremy Hunt spoke for an hour in the House of Commons yesterday, covering announcements from the energy cap to childcare extensions to new support for investment zones.
It was alot to take in, so as is traditional, we have produced a highly digestible, easy to read summary of all the key points.
This highlights some key take homes for businesses:
- The UK narrowly avoided recession in Q4 2022, good news compared to the 1.4% fall in GPD forecast.
- GDP growth is expected to rise by 1.8% in 2024
- Changes in the R&D tax relief
- ‘Full expensing’ capital investment scheme
- Corporation tax still set to increase to 25% in April 2023
Fuller details can be found in the report here: Spring-Budget-march23-orange
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