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.