A word from Lorraine Griffin, Head of Tax

How quickly things can change in a year!

As we reflect on Budget 2023, it’s a stark reminder of the dramatic changes we’ve experienced from a geo-political, energy supply and broader economic perspective. Budget 2022 was unveiled at a time when we were emerging from the worst of the pandemic, and a strong rebound in the economy was evident, with Government signalling it would be returning to more normal fiscal policies. Just 12 months on, the context for Budget 2023 couldn’t be more different, with the conflict in Ukraine continuing to negatively affect the EU economy and setting it on a path towards lower growth and higher inflation. The following infographic highlights key measures outlined in Budget 2023 and and further commentary from our Tax experts is available below also.

We hope you will find Deloitte’s commentary on Budget 2023 to be useful and look forward to bringing you further insights on the Finance Bill when it is released.