Spring budget 2023
Announced 15 March 2023
Jeremy Hunt delivered what has been dubbed the ‘back-to-work budget’ on 15 March with multiple measures aimed at getting working aged people who aren’t currently working, back to the workplace.
Key points in the spring budget included the expansion of free childcare hours, ‘returnerships’ for over-50s, and more support for people with disabilities or long-term health conditions.
In his speech, the chancellor unveiled his plans to grow the UK economy through a strategy that focuses on four pillars, or “four E’s”: Education, Enterprise, Employment and Everywhere.
So, what did each pillar of the industrial strategy address?
‘Everywhere’ concentrated on measures to level up growth across the UK.
‘Enterprise’ focused on becoming Europe’s most dynamic economy by lowering business tax, reducing energy costs and supporting growth industries.
‘Employment’ brought forward reforms to remove the barriers that stop people who want to from working.
‘Education’ brought forward reforms to childcare including increasing the availability of childcare, reducing costs and increasing the number of parents able to use it.