Spring Statement 2022 – full summary

House of parliament

24th March 2022

The Chancellor Rishi Sunak delivered his Spring Statement at this troubled time, and with inflation at its highest rate in 30 years. The Statement was intended, not as a ‘full Budget’ but as an economic update.

However, given the current significant increases to the cost of living, the Chancellor did include a number of tax measures, including the headline grabbing reduction to the basic rate of Income Tax from 2024.

Our summary provides an overview of the key announcements arising from the Chancellor’s speech, and how they are likely to impact your business and personal finances.

Please get in touch with your usual haysmacintyre contact or any member of the Tax team, if you have any queries.

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Katharine Arthur

Partner, Head of Private Client
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