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Spring Budget 2023

NM136045 • March 16, 2023

Yesterday the Chancellor Jeremy Hunt announced his spring budget with funding for:

Yesterday the Chancellor Jeremy Hunt announced his spring budget with funding for:

  • 30 hour childcare for one & two year olds from Sept25
  • Support for upfront fees for people on Universal Credit
  • New childminders incentive of £600
  • Child ratio increases within nurseries
  • Changes to fitness to work regime
  • Tougher requirements to look for work when on benefits
  • Immigration to ease labour restrictions in key sectors
  • Energy subsidy extended till summer
  • Prepayment metres to be aligned with Direct Debit
  • Nuclear & low Carbon power generation initiatives
  • £63m to support leisure centres
  • Corporation tax to increase to 25% where PBT is >£250k and scaling from 19% - 25% for PBT between £50k to £250k
  • Investment offsets for machinery & technology against Corporation tax
  • 12 new investment zones
  • Reduced paperwork for international traders



https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1142902/Web_accessible_Budget_2023.pdf


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