Jeremy Hunt delivered the government's 2023 spring budget in the House of Commons on Wednesday.
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The chancellor started by saying the British economy is 'proving the doubters wrong' after taking 'difficult decisions' in autumn. Hunt confirmed the OBR now forecasts the UK will not enter a technical recession this year, following last November's prediction that Britain would fall into a recession lasting just over a year from the third quarter of 2022. The chancellor announced an extension in financial support for households struggling with the cost of living crisis, prioritising support for parents with childcare costs alongside a multibillion-pound package of tax breaks for business to encourage investment.

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