Chancellor Jeremy Hunt goes into the autumn statement today preparing to cut taxes, boost the economy and – he hopes – save the Tories’ election chances. The economy is “back on track”, Jeremy Hunt will declare as he starts cutting taxes and pushes for business growth ahead of next year’s election.
The Chancellor will reportedly use his autumn statement to reduce headline rates of national insurance and make permanent a £10 billion-a-year tax break for companies that invest in new machinery and equipment. His deputy Laura Trott had already indicated that individuals would benefit from a giveaway as well as measures aimed at boosting business. The Chancellor’s Commons statement on Wednesday is expected to contain 110 different growth measures as he seeks to revive the UK’s economy and the Tories’ election chance
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Chancellor Jeremy Hunt's Autumn Statement: What it means for youChancellor Jeremy Hunt's Autumn Statement includes "110 measures to help grow the British economy", covering a variety of topics such as welfare and tax cuts. But what do these measures actually mean for you? Chancellor Jeremy Hunt unveiled the measures on Wednesday as part of the Autumn Statement. The statement covers an array of measures, including national insurance cuts, supporting British businesses and changes to welfare. Here are the key points and highlights from the Autumn Statement: The economy and personal finances Increased benefits: The government has now increased Universal Credit and other benefits from April 2024 by 6.7 per cent in line with September's inflation figure. This will see an average increase of $470 for 5.5 million households next year Increased Local Housing Allowance rate: Local Housing Allowance rate will increase to the 30th percentile of local market rents. This means 1.6 million households will receive an average of £800 of support next year
Source: LBC - 🏆 17. / 74 Read more »