Watch as Jeremy Hunt delivers his Spring Budget to the House of Commons on Wednesday (15 March) and follow The Independent’s live blog featuring the latest updates.
Speaking in the House of Commons, the chancellor announced the UK economy is “on the right track” as he outlined his policies for 2023.
Mr Hunt also explained how the government intends to help relieve the cost of living crisis, confirming the energy price guarantee will be extended for a further three months from April to June at its current level.
He went on to announce pension and childcare benefit changes to encourage more people to get back to work, focusing on helping 700,000 parents on Universal Credit who had limited requirements to look for jobs.
“Many remain out of work because they cannot afford the upfront payment necessary to access subsidised childcare. So for any parents who are moving into work or want to increase their hours, we will pay their childcare costs upfront,” Mr Hunt said.
“And we will increase the maximum they can claim to £951 for one child and £1,630 for two children, an increase of almost 50 per cent.”
Labour leader Sir Keir Starmer then made a statement of his own, responding to Mr Hunt’s Budget.
