Chancellor Jeremy Hunt has announced the government’s autumn budget, confirming a wave of economic measures to help strengthen the UK economy. It comes as the Office for Budget Responsibility (OBR) has confirmed the UK has entered a recession which it expects to last a year.
Mr Hunt has announced cuts in public spending and tax increases, as households are facing soaring food and energy bills and high inflation. Speaking in the Commons on Thursday (November 17) the chancellor outlined a package containing “difficult decisions” that amounts to a “substantial tax increase” in an autumn statement he said would put the UK on a “path to stability”.
He promised his statement will lead to a “shallower downturn” in the UK’s finances. Here are the key points from Chanellor Jeremy Hunt’s autumn statement:
