Chancellor Jeremy Hunt presented his first Budget on Wednesday 15th March. The fiscal backdrop was certainly calmer than before his Autumn Statement in November. There could even be some positive fiscal news for the Chancellor, given falling energy prices and interest rate expectations. But acute pressures on public services, demands for higher public sector pay, an ongoing squeeze on household living standards, and a highly uncertain outlook for the economy nevertheless made this a difficult first Budget to navigate.

IFS researchers presented their initial analysis of the Chancellor's announcements on the following day, Thursday 16th March, at an online webinar.

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