Budget Day today 12:30 - I’ll watch it on TV and quickly type up the main points here. Pensions Lifetime Allowance, which caps the size of pension schemes has been abolished altogether! Enhanced allowances for life sciences, and creative sectors (TV/film mentioned as largest in Europe & expanding)Other points -OBR says the UK will not now enter a technical recession this year (did he mean 22/23 fiscal year, or 2023 calendar year? Will have to check the OBR forecasts directly)OBR forecasting inflation will fall from 10.7% (Q4 2022), to just 2.9% by end 2023. Energy price cap of £2,500 (typical usage) will be extended for another 3 months for households, saving £160 extra.

Source: New York Times March 15, 2023 23:29 UTC