Burden of tax 'will be higher for a while', Chancellor Jeremy Hunt tells BBC Follow live Budget reaction and analysis
and scrap the £1m limit for tax-free pension savings - a move which Labour says will help only the richest 1%
The independent forecaster, the Office for Budget Responsibility , said the UK economy would shrink this year but avoid recession, with inflation predicted to more than halve by the end of this yearHe said he wanted to fill a million vacancies across the UK so firms can"grow faster" Inflation, the rate at which prices are increasing, is forecast to fall from 10.7% in the final quarter of last year to 2.9% by the end of 2023, according to the OBR
The OBR is also warning of a big drop in living standards, which it says will not recover to pre-pandemic levels until at least 2027Labour leader Sir Keir Starmer accused the government of being"out of touch" and putting the country"on a path of managed decline"
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