IN FULL: Spring Budget 2023 announcement - Jeremy Hunt, Chancellor of the Exchequer | Jeremy Hunt insisted he wants a million more women working today as he unveiled a Budget with free childcare for under-threes and abolished pension pot limits to stop doctors leaving the NHS. Hailing a marginally brighter outlook in the Commons, the Chancellor said the country is now expected to avoid a technical recession this year - although it will stall. Inflation is on track to be more than halved, Mr Hunt said. He told MPs that the more stable situation since he and Rishi Sunak took over the government had paved the way for measures to enhance growth.
Additionally, Britons will be able to save thousands more into their pensions before paying tax under plans announced by Jeremy Hunt today. The Chancellor is increasing the annual allowance - the most adults can save in their pension pots in a year before paying tax - from £40,000 to £60,000. And, in a surprise Budget move, Mr Hunt also announced he is abolishing the lifetime allowance on pensions savings completely.
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