UK will not go into recession this year, Hunt announces

01:00

UK will not go into recession in 2023, Jeremy Hunt announces

Jeremy Hunt has announced the UK will not enter recession in 2023.

The chancellor said the economy is “on the right track” as he delivered his Budget in the House of Commons on Wednesday (15 March).

“Today, the Office for Budget Responsibility forecasts that because of changing international factors and the measures I take, the UK will not now enter a technical recession this year,” Mr Hunt said.

“They forecast we will meet the prime minister’s priorities to halve inflation, reduce debt and get the economy growing. We are following the plan and the plan is working.

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