The headline message from the Chancellor

The Chancellor highlighted that “In the autumn we took difficult decisions to deliver stability and sound money… Today, we deliver the next part of our plan. A budget for growth… long-term, sustainable, healthy growth that pays for our NHS and schools, finds jobs for young people, and provides a safety net for older people all whilst making our country one of the most prosperous in the world.”

He concluded his speech stating that “We tackle the two biggest barriers that stop businesses growing: investment incentives and labour supply. The best investment incentives in Europe. The biggest ever employment package… The declinists are wrong, and the optimists are right. We stick to the plan because the plan is working.

Look to the medium/long-term with some optimism

Chamber Manager Diogo Rodrigues says “The Chancellor has clearly felt the need to act to address the unfilled jobs blighting our economy, and this will be welcome news to business owners who have been struggling with recruitment and retention for quite some time now. The help on childcare costs, and extra incentives designed to entice more over 50s back into the workplace are welcome news”.

He adds, “Many of the measures announced will take some time to kick in before we see some real change on the ground however, this Budget seems to be tackling some of the obstacles holding business back and I think we can view it as a boost for business and look to the medium/long-term with some optimism”

Guide to the Spring Budget 2023 by Maxwells Accountants