UK Budget briefing for members
By Shona Mitchell, SFHA Policy Lead.
Chancellor Rishi Sunak has set out his Budget, stating it was focused on ‘stronger growth, stronger public services and stronger employment’. He said the UK government wants to invest in an innovative economy, but predicted challenging months ahead as a result of Covid-19, rising inflation, supply chain challenges and high energy prices. Despite this, he told the Commons the Office for Budget Responsibility (OBR) expects the economy to return to pre-Covid levels at the turn of the year.