Spring Budget 2023
Last week on the 15th of March, Chancellor Jeremy Hunt gave his 2023 budget announcements in parliament. This included increasing the workforce and adjustments to pensions.
The main aim for Hunt is to fill labour shortages and get the economy’s inactivity back to work.
Currently, there are one million jobs in the UK but seven million adults of working age are not in work. The Spring Budget intends to help get these people into work by breaking down the barriers that exist.
The three groups Hunt wants to focus on to tackle the economy’s inactivity are those with long-term illnesses, working parents and over 50s. However, this only covers some economically inactive people as they are a diverse group.