UK expected to avoid recession in 2023: chancellor

STORY: UK expected to avoid recession in 2023: chancellor DATELINE: March 16, 2023 LENGTH: 00:03:35 LOCATION: London CATEGORY: ECONOMY SHOTLIST: 1. STANDUP (English): ZHAO XIUZHI, Xinhua correspondent 2. various of streets in London 3. SOUNDBITE 1 (English): JEREMY HUNT, Chancellor of the Exchequer 4. SOUNDBITE 2 (English): STEVE NOLAN, Lecturer in Economics at Liverpool Business School STORYLINE: STANDUP (English): ZHAO XIUZHI, Xinhua correspondent "The UK government on Wednesday unveiled its Spring Budget, trying to speed up its struggling economy. New policies include childcare reforms, tax cuts for businesses, and measures to ease the cost-of-living burden for households." The United Kingdom (UK) will avoid a technical recession this year and the inflation will fall to 2.9 percent by the end of 2023, Chancellor of the Exchequer Jeremy Hunt said on Wednesday. SOUNDBITE 1 (English): JEREMY HUNT, Chancellor of the Exchequer "Today the Office for Budget Responsibility (OBR) forecast that because of chang