The five key sections of the Budget at a glance

The crucial points for investors from Jeremy Hunt’s speech

Top 5 budget takeaways



  • – UK economy to avoid technical recession this year but still predicted to shrink 0.2%, according to the Office for Budget Responsibility
  • – Growth for 2024 is forecast to be 1.8%, with 2.5% in 2025 and 2.1% in 2026.
  • – Inflation predicted to drop to 2.9%, down from February’s figure of 10.1%

Tax and Pensions

  • – The lifetime pension allowance, which stated workers had to pay extra tax on a pension pot worth more than £1.07m, has been abolished.
  • – Workers can now place up to £60,000 into their pensions tax free, compared to £40,000 before.

See also: ‘Seismic change’ in pension tax landscape as lifetime allowance scrapped

Enterprise and investment

  • – Creation of 12 investment zones across the country, each having access to interventions worth £80m over five years, including tax reliefs and grant funding.
  • – Corporation tax rise from 19% to 25% confirmed, but companies write off the full cost of qualifying technology and machinery investment
  • – AI industry to be bolstered by £900m for super computer facility

See also: Chancellor unveils 12 ‘potential Canary Wharf’ investment zones


  • – Subsidies to limit household energy bills to £2,500 a year to be extended until the end of June.
  • – Investment of up to £20bn in carbon capture technology
  • – Launching of Great British Nuclear to support new nuclear builds, and classification of nuclear energy as sustainable.


  • – ‘Returnership’ programme to encourage over 50s back to work, worth £63m
  • – Working parents in England allowed 30 hours of free childcare for one and two-year-olds



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