Policy paper

Spring Budget 2023

This is the Spring Budget 2023 in full. You can find supporting and related documents below.

This was published under the 2022 to 2024 Sunak Conservative government

Documents

Spring Budget 2023 (web)

Spring Budget 2023 (print)

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Correction slip: Spring Budget 2023

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Impact on households: distributional analysis to accompany Spring Budget 2023

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Spring Budget 2023: Policy Costings

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Spring Budget 2023: Data Sources

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Table 4.1 Spring Budget 2023 Policy Decisions

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Table 4.2 Spring Budget 2023 Measures announced at Autumn Statement 2022 or earlier that will take effect from April 2023 or later

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Details

The Chancellor of the Exchequer presented his Spring Budget to Parliament on Wednesday 15 March 2023.

Distributional Analysis

This document sets out the estimated impact of changes to tax, welfare and public service spending policy that carry a direct, quantifiable impact on households. It also presents estimates of the overall level of tax paid and public spending received by households.

Policy costings

This document sets out the assumptions and methodologies used in the government’s costing of policy decisions announced since Autumn Statement 2022.  For each decision it contains a description of the measure, the base, and the methodology for the costing (including relevant adjustments for behavioural responses). It highlights main areas of additional uncertainty.

Data sources

This document details all of the data sources used throughout the Spring Budget 2023 document. In order to be transparent, it informs readers of the Spring Budget 2023 document where the data used in the charts, tables and text comes from and how it has been calculated.

Table 4.1 Spring Budget 2023 Policy Decisions

Table 4.1 shows the cost or yield of all government decisions accounted for at Spring Budget 2023 which have a direct effect on Public Sector Net Borrowing (PSNB) in the years up to 2027-28. This includes tax measures, changes to aggregate Departmental Expenditure Limits (DEL) and measures affecting annually managed expenditure (AME).

Table 4.2 Spring Budget 2023 Measures announced at Autumn Statement 2022 or earlier that will take effect from April 2023 or later

Table 4.2 shows the cost or yield of all announced government policy decisions that will take effect from April 2023 or later, with a direct effect on Public Sector Net Borrowing (PSNB), costed using the determinants from the OBR’s March 2023 forecast in the years up to 2027-28. This includes tax measures, and measures affecting annually managed expenditure (AME).

Also publishing alongside Spring Budget 2023:

Updates to this page

Published 15 March 2023
Last updated 21 March 2023 + show all updates
  1. Added updated Spring Budget 2023 documents and a correction slip, and corresponding correction made to HTML document

  2. First published.

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