The UK chancellor Jeremy Hunt will have limited room for manoeuvre when he makes his autumn statement about the government’s financial plans on November 22. The government is committed to supporting the Bank of England’s current strategy for reducing inflation, which involves using rate hikes to slow down economic activity.
This means Hunt can’t take any steps that would immediately boost spending by people, businesses or the government, such as across-the-board income tax cuts. But he is likely to focus on extending tax breaks for business investment aimed at stimulating economic growth over time.
And while the government often saves grand financial plans for its annual budget announcement (usually made in March) , some smaller measures have been trailed in recent weeks that could feature in the autumn statement and that would have an impact on your money.
