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.
Our summary of the Autumn Statement 2022 delivered on Thursday 17 November by the current Chancellor, Jeremy Hunt.
He was faced with a challenging economic backdrop to his first major set piece, grappling with a combination of over 11% inflation, a recession, the need to calm markets and re-establish the UK’s financial credibility following the turmoil of September’s ‘mini-Budget’.
Mr Hunt’s position was not an enviable one. His long-term focus, he stated, is on stability, growth and public services. Most of the attention, however, centres on the balance he attempted to strike between tax increases (real and stealth) and spending cuts to fill the over £50 billion hole he has inherited.
We have added a link to our breakdown on the right.
Page 2 of 6
- You are here:
-
Home
-
ROOT
- General
