Chancellor Jeremy Hunt will deliver his Autumn Statement on November 22, 2023 - and businesses large and small will be watching to hear what he will announce to help stimulate economic growth and tackle the cost-of-living crisis.
This will be Mr Hunt’s second Autumn Statement. His first last year was delivered in the wake of the turbulent Liz Truss era, just weeks after Kwasi Kwarteng’s failed “mini-Budget”.
Mr Hunt will use the occasion to update the country on the Government’s latest plans for tax and public spending. He will also address MPs on the latest economic and fiscal forecast from the Office for Budget Responsibility.
While inflation has eased recently, it remains high - and businesses and households are still grappling with the effects of soaring costs.
Those economic woes mean the Chancellor’s room for manoeuvre on tax cuts is also limited. In September, he warned there was no “extra headroom” to cut taxes and that reductions were “virtually impossible”.
But, with Labour soaring in the polls, the Chancellor has been under pressure from fellow Conservative MPs to commit to tax cuts ahead of the next General Election - and so there has been speculation that inheritance tax rules could be changed.
BusinessLive will be covering all aspects of the Autumn Statement, both ahead of its reading and on the day itself.
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