The Budget - Taxation And Wages

16th March 2023

Cap on amount workers can accumulate in pensions savings over their lifetime before having to pay extra tax (currently £1.07m) to be abolished.

Tax-free yearly allowance for pension pot to rise from £40,000 to £60,000 - having been frozen for nine years.

Fuel duty frozen - the 5p cut to fuel duty on petrol and diesel, due to end in April, kept for another year.

From August, alcohol taxes in pubs to be 11p in the pound lower than the rate in supermarkets.