Jeremy Hunt will unveil the Government’s much-anticipated Autumn Statement at 11:30am today.
The Chancellor is expected to announce a series of new financial policies in the House of Commons, as the country grapples with rising inflation and a cost of living crisis.
An increase in the national living wage, cost of living payments for those on means-tested benefits and an increase in line with inflation for benefits and pensions have all been speculated along with expected tax rises and spending cuts.
Welcome to the SalfordNow Live Blog of the Autumn Statement:
12:28 – Jeremy Hunt has now concluded his Autumn Statement.
12:27 – Means-tested benefits including Universal Credit will increase by 10.1% in line with inflation from April next year.
12:26 – The Chancellor has announced a 10.1% rise in pensions from April 2023.
12:25 – The National Living Wage will increase to £10.42 from April next year.
12:24 – Jeremy Hunt has announced an additional payment of £900 to those on means-tested benefits.
12:20 – Support for energy bills will be extended but will be less generous announces the Chancellor.
12:11 – Jeremy Hunt reaffirms commitment to HS2 and Northern Powerhouse Rail.
12:02 – An increase in the NHS budget by £3.3bn for the next two years has also been announced by Jeremy Hunt.
11:57 – The Chancellor has announced a £2.3 billion increase in the schools budget for 2023 and 2024.
11:53 – The freezing of the income tax personal allowance has been extended until 2028.
11:49 – The energy industry windfall tax on oil and gas companies will increase by 10% to 35%, the Chancellor has announced.
11:41 – Jeremy Hunt has announced that the threshold for paying the top rate of tax will be brought down from £150,000 to £125,140.
11:36 – The Chancellor says that the Government’s priorities are “stability, growth and public services.”
11:31 – Jeremy Hunt is at the despatch box and has started to present the Autumn Statement to the House of Commons.
Recent Comments