In what was widely expected to be Mr Hunt’s final Budget ahead of an election, speculation focused on the trade-offs that might be required around cutting taxes and meeting both fiscal rules and spending commitments.
Ultimately the Chancellor had it both ways, with some headline grabbing measures aimed at easing the tax burden on earners and families, while also introducing some tax increases to cover their costs.
Our summary is on the right for download.
Following Chancellor Jeremy Hunt's Autumn Statement yesterday afternoon, here is our summary to download (on the right)
Despite the fact that he badged these as 110 steps for growth, I think the biggest announcements were the fall in employee National Insurance by 2% to take effect from this coming January, and the rise in state pension by 8.5% from April. The other points can probably be described as tinkering around the edges.
After presenting a Budget-in-all-but name with the Autumn Statement, the Spring Budget was delivered against the backdrop of a day of widespread industrial action. The run-up to the event appeared deliberately downplayed, save for a late flurry of leaks highlighting a focus on childcare at one end of the scale and pensions at the other. While acknowledging the Prime Minister’s two objectives of halving inflation and reducing debt, Mr Hunt focused his Spring Budget on the Prime Minister’s third objective – getting the economy going.
In a wide-ranging and longer than usual speech
Our summary is on the right. please feel free to download it.
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