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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