The next UK Budget will be held on 15 March 2023, HM Treasury has revealed, with chancellor Jeremy Hunt also confirming that the Spring Budget will be accompanied by a forecast from the Office for Budget Responsibility - something that was lacking when the so-called 'Mini-Budget' was announced by former chancellor Kwasi Kwarteng, sparking turmoil in markets for UK debt and other instruments.
Hunt said this forecast, along with the forecast prepared for the Autumn Statement last month, will fulfil the obligation for the OBR to produce two forecasts every financial year, reports sister site Investment Week.
The Autumn Statement was Hunt's first fiscal statement as chancellor, which came following previous chancellor Kwasi Kwarteng's Mini Budget that rocked financial markets.
Next year's Spring Budget will allow Hunt to reassess the state of the energy market, as well as the effect of interest rate hikes made by the Bank of England.
