to a spending increase of £150 billion over three years with the economy forecast to return to pre—covid levels by next year. he forecast that inflation is likely rise above 4% next year, though the government's own budget watchdog suggests it could rise higher still. growth is forecast to be 6.5% this year but may then fall as low as 1.3% after 2023. after much criticism for reversing the £20 weekly boost to universal credit, the chancellor has announced the the universal credit taper rate will be cut by 8 percentage points. that means rather than than losing 63p in benefits for every extra pound you earn, you will only lose 55p. a one—year 50% cut in business rates in england has been pledged for some of the businesses hit hardest by the pandemic — retail, hospitality and leisure. and just days before the uk hosts the global climate summit cop26 in glasgow, air passenger duty on uk flights will be cut and duty on fuel