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Suffering of innocent civilians in Gaza ‘must end’ says Sunak as he urges pause for humanitarian aid
Jeremy Hunt is set to cut national insurance for 28 million people as he unveils a crackdown on benefits claimants in today’s autumn statement.
The chancellor is expected to reduce the headline rates of national insurance for employees and the self-employed.
A one per cent cut would be worth £380 a year to someone earning more than £50,000 but could cost the government somewhere in the region of £5bn.
Rishi Sunak is also set to threaten to cut benefit payments to hundreds of thousands of people with mobility and mental-health problems unless they find work they can do from home.
The prime minister will tell them to find jobs or face a benefits cut of £4,680 a year if they do not in a bid to get more people back to work.
But leading disability charity Sense warned the plans risked punishing disabled people as they would be put under “more pressure to find work” without the necessary support required to do so.
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Alcohol duty to be frozen – report
Jeremy Hunt will freeze duty on alcohol in a bid to boost pubs, according to a report.
The Sun reports the chancellor will not put up levies on beer, wine and spirits.
Pubs and bars will are also likely to have their 75 per cent business rates holiday extended, the paper adds.
Matt Mathers22 November 2023 08:12
What else can we expect in the statemet?
It has become increasingly common in recent years for most of the major budget announcements to be briefed out by the Treasury in advance of the event.
We know that there will be a rise in the national living wage, a crackdown on benefits and reports say there will also be cuts to national insurance contributions and business tax.
But what else is likely to feature in the chancellor’s statement?
Matt Mathers22 November 2023 08:05
Hunt to unveil biggest business tax cut in 50 years
Jeremy Hunt is set to unveil the biggest business tax cut for 50 years in a bid to boost Britain’s flatlining economy, Archie Mitchell reports.
The chancellor will permanently extend “full expensing”, which allows companies to claim back up to 25p for every pound invested in things like technology and infrastructure, The Daily Telegraph reported.
The tax break had been due to end in March 2026 and making it permanent is set to cost around £10bn per year.
Mr Hunt has said he will use the autumn statement to boost business investment and get people back into work “to deliver the growth our country needs”.
Jeremy Hunt (Aaron Chown/PA)
(PA Wire)
Matt Mathers22 November 2023 07:55
What time is the statement?
Chancellor Jeremy Hunt is scheduled to deliver his statement at 12.30pm, after PMQs.
MPs will then debate the budget in the House of Commons.
After this, there will be an adjournment debate on regulation of maintenance and infrastructure charges for housing association stock.
Joe Sommerlad has more details below:
Matt Mathers22 November 2023 07:47
Good morning and welcome to The Independent’s live coverage of the autumn budget.
We’ll be bringing you updates throughout the day on Jeremy Hunt’s statement and other stories from Westminster and elsewhere.
Stay tuned for all the latest news.
Matt Mathers22 November 2023 07:41
Hunt to say their plan for the British economy ‘is working’
With the Bank of England forecasting a stagnant economy in 2024, Mr Hunt will insist his plan can deliver growth and reduce the national debt.
“After a global pandemic and energy crisis, we have taken difficult decisions to put our economy back on track,” he will say.
“We have supported families with rising bills, cut borrowing and halved inflation.
“The economy has grown. Real incomes have risen.
“Our plan for the British economy is working.
“But the work is not done. Conservatives know that a dynamic economy depends less on the decisions and diktats of ministers than on the energy and enterprise of the British people.”
Holly Evans22 November 2023 07:00
Hunt to tell MPs the Tories ‘reject big government’
The Chancellor’s Commons statement on Wednesday is expected to focus on backing businesses, with 110 different growth measures promised.
He will attempt to turn a corner after the Covid-19 pandemic and the energy price spike following Russia’s invasion of Ukraine led to the highest tax burden since the Second World War and huge state interventions to support the stricken economy and hard-pressed households.
Mr Hunt will tell MPs: “The Conservatives will reject big government, high spending and high tax because we know that leads to less growth, not more.”
Chancellor Jeremy Hunt will reveal his autumn budget on Wednesday
(PA Wire)
Holly Evans22 November 2023 06:00
What tax cuts can we expect, and will they make it harder for Labour?
Jeremy Hunt and Rishi Sunak have been dropping hints about tax cuts in Wednesday’s autumn statement, and it also seems that there will be some benefits reforms to get people back into the labour market.
It’s a sharp change in mood compared to even a few months ago, and ministers hope it may signal a political as well as an economic turning point.
Read the full analysis from Sean O’Grady here
Holly Evans22 November 2023 05:00
Treasury chief secretary indicates workers could be in line for a tax cut
The Government has also announced an increase in the national living wage, up from £10.42 to £11.44 from April, with the policy also extended to cover workers aged 21 and over, rather than 23 and over.
It will mean a £1,800 annual pay rise next year for a full-time worker on the living wage, while 18 to 20-year-olds will receive a £1.11 hourly rise to £8.60.
Treasury Chief Secretary Ms Trott has indicated that workers could be in line for a tax cut. She told the BBC’s Today programme the Government would focus on “cutting taxes for individuals”.
A tighter approach to welfare is also expected with plans to get people off benefits and into jobs.
Those with mental health or mobility problems could be told to search for jobs that are possible to do from home.
Holly Evans22 November 2023 04:00
Jeremy Hunt confirms pay boost for nearly 3million workers as living wage rises to more than £11 an hour
The chancellor said move would “end low pay in this country” as he said nearly three million workers would receive an hourly wage of £11.44, as he prepares to unveil the autumn statement on Wednesday.
The move will benefit nearly three million of the lowest paid.
Read the full article here
Holly Evans22 November 2023 03:00
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