Background to Spring Budget 2023
Ahead of the 2023 Spring Budget on 15 March, this briefing looks at the UK’s economic situation, economic forecasts, and the public finances.
Background and analysis
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What is the Budget?
On 26 November 2025 the Chancellor will present plans for the economy, including taxation and spending, in the Budget. What happens during and after the Budget?
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Spring Budget 2023: A summary
A summary of the announcements in the Spring Budget of 15 March 2023 and an overview of the latest economic forecasts.
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Spring Budget 2023: Reaction
This page provides links to analysis of, and reaction to, the 2023 Spring Budget, from selected think tanks, business groups, political parties and other organisations.
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Direct taxes: rates and allowances 2023/24
This briefing sets out direct tax rates and principal tax allowances for the 2023/24 tax year.
Further reading
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Finance (No.2) Bill 2022-23
The Finance Bill was published on 23 March 2023. This page looks at how the Bill relates to the Budget, with briefings relating to the main clauses debated by the Commons on 18-19 April 2023.
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The Budget and the annual Finance Bill
This briefing examines the way that Parliament scrutinises the Government's proposals for taxation, set out in the annual Budget statement.
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Tax statistics: an overview
This briefing provides an overview of tax statistics, including recent trends, forecasts, and distribution of taxpayers.
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Fiscal drag: An explainer
Several tax thresholds have not been increased since 2022. This briefing looks at fiscal drag in the context of taxation in the UK, with a specific focus on income tax thresholds.
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Rising cost of living in the UK
This briefing covers rising prices including food and energy inflation, Government support, and how the cost of living affects households.
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Research on the increasing cost of living and inflation
House of Commons Library publications on the rising cost of living in the UK, including causes of inflation, the effect on households, and Government support.
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Economic Indicators
Quick-read summaries of the latest data focusing on different aspects of the UK economy. Topics include GDP, sector performance, the housing market, and more.
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Why have older workers left the labour market?
Economic inactivity has been increasing in the UK. This Insight discusses why older workers may have left the workforce and whether they might return to work.
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How is health affecting economic inactivity?
Economic inactivity has been increasing in the UK. This Insight discusses how people leaving the workforce because of ill-health affects economic inactivity.
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Why are young people leaving the labour market?
Economic inactivity has been increasing in the UK. This Insight discusses why young people may not be entering the workforce after leaving education.
