Budget 2023: The key points of Chancellor Jeremy Hunt's speech

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Budget 2023: The key points of Chancellor Jeremy Hunt's speech
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The lifetime allowance - the total amount workers can accumulate in their pension savings before paying extra tax - has been abolished. Mr Hunt hopes it will stop 80% of NHS doctors from receiving a tax charge.Tax relief of 11p has been announced on draft drinks served in pubs from 1 August.

A new programme called universal support will also fund extra support for disabled people to find work. As corporation tax on profits over £250,000 is due to rise from 19% to 25% in April, businesses will be able to offset 100% of UK investments against their profits to bring down tax bills. The OBR said it will increase business investment by 3% for every year. Mr Hunt announced the measure for the next three years but intends to make it permanent"as soon as we can responsibly do so".

The energy rebate scheme - paid direct to customers in six instalments of £66 and £67 a month - has not been extended and will end this month.

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