UK chancellor Jeremy Hunt laid out his plans for the British economy today. The statement was made against a backdrop of a more than 40-year inflation high and recession warnings from the Bank of England.
Hunt skipped the usual photocall with his red ministerial box, since this is an autumn statement rather than a full-blown budget.
The main aim of the statement is to restore government credibility following the disastrous September mini-budget from the previous chancellor Kwasi Kwarteng. To do this, Hunt said before the announcement that he would be making “eye-watering” decisions about tax rises and spending cuts.
