Policy paper

Spring Budget 2023

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

• From: HM Treasury
• Published: 15 March 2023
• Last updated: 21 March 2023 — See all updates

This was published under the 2022 to 2024 Sunak Conservative government

Documents

Spring Budget 2023 (web)

Ref: HC 1183

PDF, 3.02 MB, 124 pages

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Spring Budget 2023 (print)

PDF, 3.54 MB, 122 pages

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Spring Budget 2023 (HTML)

HTML

Correction slip: Spring Budget 2023

PDF, 37.4 KB, 2 pages

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Impact on households: distributional analysis to accompany Spring Budget 2023

PDF, 197 KB, 22 pages

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Spring Budget 2023: Policy Costings

PDF, 509 KB, 73 pages

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Spring Budget 2023: Data Sources

PDF, 225 KB, 31 pages

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Table 4.1 Spring Budget 2023 Policy Decisions

MS Excel Spreadsheet, 42.3 KB

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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

MS Excel Spreadsheet, 16.2 KB

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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:

• Spring Budget 2023 – Business Taxes Factsheet
• Spring Budget 2023 – Labour Market Factsheet
• Spring Budget 2023 – Disability White Paper Factsheet
• Debt management report 2023-24
• Audio-visual tax reliefs: consultation
• Full expensing
• Business Rates Review: technical consultation
• Landfill Tax Review: call for evidence
• Taxation of environmental land management and ecosystem service markets
• Government response to the 2022 Fiscal Risks and Sustainability Report
• Enterprise Management Incentives Call for Evidence: Summary of Responses
• Pro-innovation Regulation of Technologies Review: Digital Technologies
• Pro-innovation Regulation of Technologies Review: life sciences (interim report)
• Long-term Investment For Technology and Science (LIFTS) initiative: request for feedback
• Consultation on disclosure: sharing information on business rate valuations
• VAT energy saving materials relief – improving energy efficiency and reducing carbon emissions
• HGV levy reform options: environmental charging and liability changes for foreign vehicles
• Landfill tax grant scheme: call for evidence
• Climate change agreements: consultation on extension and future scheme 2023
• Digitalising Business Rates: connecting business rates and tax data
• Digitalising Business Rates
• Expanding the cash basis
• Simplifying and modernising HMRC’s Income Tax services through the tax administration framework
• Income Tax: Low income trusts and estates
• Spring Budget 2023 overview of tax legislation and rates (OOTLAR)
• Highways maintenance funding allocations
• Investment Zones policy prospectus
• National Quantum Strategy
• Greater Manchester Combined Authority Trailblazer Deeper Devolution Deal
• West Midlands Combined Authority Trailblazer Deeper Devolution Deal
• Childcare: regulatory changes
• Construction and hospitality shortage review

Access HMRC’s collection of tax documents.

Published 15 March 2023
Last updated 21 March 2023 + show all updates

1. 21 March 2023

   Added updated Spring Budget 2023 documents and a correction slip, and corresponding correction made to HTML document

2. 15 March 2023

   First published.