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The Telegraph Frontpage for Wednesday 2023 March 15

Jeremy Hunt
Jeremy Hunt has been warned that a planned rise in corporation tax will have a “chilling effect” on the economy ahead of the Budget.

Sam Hall By Sam Hall & Matthew Robinson
Good evening.

Jeremy Hunt has delivered his first Budget as Chancellor, after revealing sweeping tax rises and spending cuts last year. Scroll down to discover who the winners and losers were from the Budget, and how the measures announced will affect your finances.

Also in the news this morning

Prisons | Burglars could be released from prison a quarter of the way through their sentences under a new early-release scheme to tackle the overcrowding crisis in jails. The Ministry of Justice has sanctioned an extension in the time that offenders released from jail can spend at home while wearing an electronic tag, from 135 days to 180 days. Our Home Affairs Editor Charles Hymas has the full story.

Evening briefing: Today’s essential headlines

Strikes | Tube strikes wrought havoc for thousands of commuters across the capital, with unions threatening a further round of walkouts.

The big story: Hunt sets out his ‘Budget for Growth’

The UK economy will avoid a recession in 2023 as inflation plunges from recent highs, Jeremy Hunt told MPs as he delivered his Spring Budget. In a boost to millions of households, he announced further support with energy bills and expanded free childcare – find out who is eligible for the extra help, and when it will start. Matt Oliver and Melissa Lawford have a summary of the key points from the Chancellor’s speech. Mr Hunt also handed a huge boost to wealthy retirees by abolishing the lifetime tax-free pension allowance from April 2024. You can use our pension lifetime allowance calculator to work out how the Budget will affect your pension. Jeremy Warner writes that despite a damp squib of a budget, things are beginning to look up for the economy. Click here for a full outline of the winners and losers from the Budget.

Tax burden on track to hit post-war record, warns OBR

Britain’s tax burden is on course to hit a new post-war record, as the Chancellor reaps billions of pounds more from a raid on workers, investors and businesses, official forecasts show. The Office for Budget Responsibility (OBR) expects the UK to avoid a recession as stronger tax receipts, tumbling energy prices and measures to get people back to work help the economy avoid a prolonged downturn. However, it warned that households still faced the biggest two-year squeeze in living standards on record – find out why by reading our business live blog.

Britain is ‘sick man of Europe’ again, says Keir Starmer

Sir Keir Starmer claimed the UK is the “sick man of Europe once again”, as he criticised the Budget. The Labour leader told the House of Commons that the economy needed “major surgery”, but all it got today from the Chancellor was a “sticking plaster”. During his speech, Mr Hunt took a swipe at Matt Hancock over the former health secretary’s leaked WhatsApp messages revealed by The Telegraph. You can find all the political reactions to the Budget on our politics live blog. Patrick O’Flynn writes that this was a targeted budget for key voters, but argues ‘steady as you go’ won’t be enough to save the Tories.

‘American spy working at GCHQ’ stabbed in suspected terror attack

A woman stabbed in an alleged terrorist incident in Cheltenham was an American spy working at the nearby GCHQ base. The victim was targeted by a lone knifeman as she sat in her car in a leisure centre car park on March 9. She was taken to hospital where she underwent surgery and remained in a stable condition. A 29-year-old man arrested at the scene was initially held on suspicion of attempted murder. He was later re-arrested on suspicion of terror offences, police confirmed. The woman had been seconded to the Government’s secret listening station at GCHQ. The exact nature of her role has not been revealed, but it is thought she could have been working for the US National Security Agency which has close links with the security services in the UK. Our Crime Editor Martin Evans has the full story.

BBC staff put boot into Lineker and bosses

BBC Sport staff hit out at “multi-millionaire presenters who are drawing the picket lines and expect everyone else to join”, in a tense meeting with senior executives in Salford yesterday. Far from being united behind Gary Lineker, who has been embroiled in an impartiality row, it is understood that several staff members spoke out against the presenter. A source told The Telegraph: “There was a sliding scale of anger among the rank and file between BBC management and Lineker.” Meanwhile, there is strong feeling among some that the BBC indulges freelancers who have different rules to staff journalists. Part of that, according to a source, is turning a blind eye to their social media output when staff can expect “a rap across the knuckle” for far less controversial messages.

Comment and analysis

World news: Russia searching for US drone wreckage

Russia will try and retrieve the US drone one of its fighter jets downed over the Black Sea, the Kremlin has announced. However, a White House spokesman said the drone may never be recovered. Catch up on today’s developments on our Ukraine live blog.

Around the world: Ukraine’s ‘territorial dispute’ is no ‘vital interest’ for US, says DeSantis

Ron DeSantis has declared that protecting Ukraine is not a “vital interest” for the United States and called the conflict a “territorial dispute” between Kyiv and Moscow. The Florida governor echoed the position of Donald Trump as he indicated that Ukraine should not be a foreign policy priority, which he said should instead be the threat from China and securing the southern border. His position means that the two likeliest contenders for the Republican presidential nomination in 2024 have split with senior Republican figures in Congress over Ukraine.
Ron DeSantis
Ron DeSantis said ‘the US had many vital national interests’ other than Ukraine Credit: Ron Johnson/AP

Editor’s choice

Rishi Sunak
Rishi Sunak | PM’s sweet tooth might just endear him to the nation
Food | Why this Mediterranean staple could help you live longer
Fiona Bruce
Petronella Wyatt | We musn’t forget that the Left can be just as tyrannical as the Right
Thanks to new 3D technology, passengers will be able to travel with up to two litres of liquids per person
Travel | The 100ml airport liquid limit is ending, but there’s a catch
Royals | After protesters heckled the King this week, is support for the royals crumbling?
Ted who? The Brits behind Mike Bassett, TV’s original – and best – football manager
TV | Ted who? The Brits behind Mike Bassett, TV’s original – and best – football manager

Business news: Escalating crisis at Credit Suisse triggers fresh fears for European banks

Credit Suisse’s biggest shareholder has ruled out injecting any more cash into the embattled bank, triggering a slump in its share price and sparking panic in financial markets. Simon Foy has more on this story here.

Published by Guestspeaker

A joint effort of several authors who do find that nobody can keep standing at the side and that “Everyone" must care about what is going on in today’s world. We are a bunch of people who do not mind that somebody has a totally different idea but is willing to share the ideas with others and to be Active and willing to let others understand how "today’s decisions will influence the future”. Therefore we would love to see many others to "Act today".

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