Chancellor Jeremy Hunt today unveiled his Autumn Statement, with huge implications for families and working Brits.
There were huge tax changes, with a freeze on the Income Tax personal allowance and National Insurance thresholds confirmed.
This essentially means millions of workers will be handing over more cash to the taxman.
There were also changes to the Minimum Wage and energy bills, plus more cost of living payments to come.
Our calculator below highlights how the Minimum Wage is changing and how much more you could be paying for energy.
The minimum wage will rise by 9.7% from April 2023, in a boost for around two million low-paid workers.
USE OUR AUTUMN STATEMENT CALCULATOR BELOW
It means the National Living Wage, which is currently set at £9.50 an hour for people aged over 23, will be bumped up by 92p to £10.42 from April 2023.
The minimum wage for people aged 21 to 22 will rise from £9.18 to £10.18, from £6.83 to £7.49 for those aged 18 to 20, and from £4.81 to £5.28 for under 18s and apprentices.
But the 9.7% rise is slightly below the rate of inflation, which is currently at a 41-year high of 11.1%.
Keep in mind our calculator above only shows your wage change if you're paid the minimum wage for your age.
Meanwhile, energy bills will rise to £3,000 a year for the typical household from April - up from £2,500 now.
The rise means households won’t pay the £3,739 that is being predicted by energy analysts at Cornwall Insight.
But bills are still eye-wateringly high compared to a year ago, when the Ofgem price cap was £1,277 in October 2021.
The Chancellor confirmed the Energy Price Guarantee will be extended beyond April - lasting for 12 months.
Much like the Ofgem price cap, which the Energy Price Guarantee replaced, the headline £3,000 figure isn't a total cap on your bills.
It is the unit rates and standing charges that are capped - this means if you use more energy, you could pay more than this figure.
Similarly, use less energy and your bill could be less.
The new £3,000 Energy Price Guarantee will last for 12 months, taking households to April 2024.
To help struggling families, the Government has announced further cost of living payments.
This includes £900 to households on certain means-tested benefits, including Universal Credit, Tax Credits and Pension Credit.
Another £150 would go to people on disability benefits including Personal Independence Payment.
And it would give another £300 to pensioner households who already receive a Winter Fuel Payment.
