Budget 2023: The key points of Chancellor Jeremy Hunt's speech

16th March 2023
Home > News > Budget 2023: The key points of Chancellor Jeremy Hunt's speech

Energy bills, beer, fuel and inflation: the key announcements in Chancellor Jeremy Hunt's March budget.

The chancellor has announced the budget for 2023.

  • The UK will now not enter a technical recession this year, say independent forecasters the Office for Budget Responsibility (OBR).
  • Inflation will more than halve and reduce to 2.9% by the end of the year, the OBR expects.
  • Parents - working 16 hours a week - of children aged nine months to five years will get 15 hours free childcare to encourage caregivers to enter the workforce.

    This will be staggered from April 2024 to ensure enough places. Children up to two years old will get 15 hours free from April 2024, children from nine months up will benefit from September 2024, and from September 2025 every single working parent of a child under five will have access to 30 hours free childcare per week.


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