Budget summary: Key points from Jeremy Hunt’s 2023 Budget

Watch: Hunt announces that energy support will continue

Chancellor Jeremy Hunt has unveiled the contents of his first Budget in the House of Commons.

It had a focus on prompting those who have left their jobs to return to the workforce, and boosting business investment.

Here is a summary of the main announcements.

Fuel, alcohol, pensions and wages

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Energy bills, prepayment meter and nuclear power

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Childcare, universal credit and back to work plans

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Government debt, inflation and economic growth

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Corporation tax, Investment Zones and tax breaks

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Other measures

  • Commitment to raise defence spending by £11bn over the next five years
  • Prison sentences for those convicted of marketing tax avoidance schemes
  • £200m this year to help local councils in England repair potholes
  • An extra £10m over next two years for charities in England helping to prevent suicide
  • Streamlined approvals process promised for new medical products
  • £900m for new super computer facility, to help UK's AI industry

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