UK Chancellor of the Exchequer Jeremy Hunt tabled the country’s annual Budget in Parliament on Wednesday with a raft of measures targeted at luring people back to work with higher pension savings and childcare costs to fight back against the cost-of-living crisis.
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The "Spring Budget" was pegged as a “growth” plan for the UK economy, which the finance minister said will avoid a recession this year and keep the government on track to meet Prime Minister Rishi Sunak’s target to halve the high levels of inflation.
He declared that the forecasts from the independent Office for Budget Responsibility (OBR), which accompany the Budget, proved that the government's plan for the economy was “working” but that he will “remain vigilant” to take any further steps necessary for economic stability.
“Our plan is working – inflation falling, debt down and a growing economy,” said Hunt, who presented his first full Budget as a member of the Sunak-led Cabinet.
“Britain is on a lasting path to growth with a revolution in childcare support, the biggest ever employment package and the best investment incentives in Europe,” he said.
If you missed my budget and my plan for how we’re going to grow the economy, here are 11 things from the budget in 60 seconds, start the clock