Britain faces huge tax rises and slashed spending on public services in Jeremy Hunt's Autumn Statement this month, experts warn. The drastic measures are expected to fill a black hole of up to £50billion in the nation's finances caused by Liz Truss and Kwasi Kwarteng crashing the economy.
The Autumn Statement - effectively a mini-Budget - will be announced on November 17 by new Chancellor Jeremy. The Mirror reports it is tipped to be a half-and-half mix of tax rises and cuts to public services, despite them having already suffered a decade of austerity. And the state pension and benefits could face a real-terms cut.
With households already paying hundreds of pounds a month more for mortgages after the Bank of England raised the base rate of interest to 3% in the largest increase for decades, the measures will be painful.
