The Alanbrookes Group Spring Budget 2023 Commentary

The Spring Budget was more of a sedate affair than an explosion of helpful economic measures. We’ve summarised the main business points and what they could mean for you and your business.

The Chancellor, Jeremy Hunt, delivered his first Spring Budget on 15 March 2023. Unlike the disastrous September 2022 ‘mini budget’, this budget won’t cause many ripples in the worlds of business and finance. In fact, it was a relatively dull affair, with few headline announcements for the average business owner to be concerned about.

However, there were some incentives regarding capital allowances on equipment and investment in research and development (R&D), to help push the economy forwards.

Whereas the primary aim of the Autumn Statement in November 2022 was to address the financial instability caused by the mini budget, this budget was labelled as a ‘budget for growth’.