Autumn statement live: Hunt unveils a brutal package of tax rises and spending cuts to curb Britain’s spiralling debts

He has announced already that everyone will have to pay more tax, and warned that he has faced ‘eye-watering’ decisions.It comes just days after analysis revealed Liz Truss’s disastrous mini budget wiped £30bn off the economy - doubling the sum that Jeremy Hunt needs to raise.

The Resolution Foundation calculated that the Truss government was responsible for about £30bn of the fiscal hole - which the Treasury puts at £60bn. She blew £20bn on unfunded cuts to national insurance and stamp duty, and £10bn more was added by the knock-on effect of higher interest rates and government borrowing costs.

Jeremy Hunt will aim to repair the damage caused by Truss later this morning when he unveils the Budget.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Autumn Budget LIVE updates as Jeremy Hunt announces tax hikes and energy helpBrits have been warned to expect tax hikes and spending cuts as the government attempts to get the economy back on track Why?! More good money after bad, They increase the budget every year just for more mismanagement to squander it, I dread to think how much Labour would waste on it if they ever got in I'll believe it when I see it
Source: MENnewsdesk - 🏆 23. / 69 Read more »