Treasury announces date of next Budget

The next Budget, setting out the government's tax and spending plans, will be held on 15 March 2023, the Treasury has announced. In a statement, Chancellor Jeremy Hunt said the Budget would also be accompanied by a forecast from the Office for Budget Responsibility. The chancellor last set out his economic plans in November, including tax rises and a spending squeeze. The government's forecasters, the Office for Budget Responsibility, have said the UK is facing the biggest drop in living standards since record began as a result of rising prices. The Treasury has said a decision on the tax would not be taken until the Budget in spring 2023.

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