The Latest Breaking News from Jeremy Hunt

Britain faces a record hit to living standards this year as surging inflation erodes incomes, the country's budget forecasters warned, after finance minister Jeremy Hunt announced more pain, with tax rises now and spending cuts further ahead.

The pound fell 0.9 per cent as the chancellor delivered the long-awaited Autumn Statement

Office for Budget Responsibility says economy is shrinking again

The Chancellor said inflation was predicted to fall next year

Income Tax and National Insurance thresholds are set at £12,570. This threshold has already been frozen for four years to April 2026, but this will now be stretched to April 2028

Jeremy Hunt announced the news to raise more money for the government

Mr Hunt said unemployment is expected to rise from 3.5% today to 4.9% by 2024

Jeremy Hunt is announcing his financial update – here are the main points, with political analysis

Stealth tactic pulls more taxpayers into higher brackets by freezing thresholds despite higher cost of living