Autumn statement: Chancellor Jeremy Hunt to claim economy is ‘back on track’
Jeremy Hunt will claim the economy is “back on track” in an autumn statement that is expected to prioritise tax cuts and economic growth.
The chancellor is expected to say the government’s plan for the economy is “working” but “the work is not done” as he unveils measures to boost business investment by £20bn a year, cut tax and get more people into work.
Mr Hunt will also set out decisions to grow the economy, reduce debt and return inflation to the Bank of England target of 2% – building further on Mr Sunak’s pledge to halve inflation by the end of the year.
Politics news – latest: Tories ‘running out of time’ – so expect tax cuts
After keeping coy about the prospect of tax cuts, they now appear to be firmly on the table as Mr Hunt vows to “reject big government, high spending and high tax because we know that leads to less growth, not more”.
But Labour’s shadow chancellor Rachel Reeves claimed the Tories were the party of “high tax”, adding: “Nothing the chancellor says or does in his autumn statement can change their appalling record.”
The hint of tax cuts comes after a Sky News poll of polls put the Tories 20 points behind Labour,
This is a worse margin than where Rishi Sunak was at the start of the autumn, when the Conservatives were an average of 18 points behind.
National insurance expected to be cut and national living wage increased
Among the key measures expected to be announced is a possible cut to national insurance contributions.
The government is also hoping to incentivise work by shaking up the welfare system and increasing the national living wage, which will rise from £10.42 to £11.44 from April and will benefit workers aged 21 and over, rather than 23 and over.
It will mean an £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.
Mr Hunt is expected to say in his statement: “After a global pandemic and energy crisis, we have taken difficult decisions to put our economy back on track.
“We have supported families with rising bills, cut borrowing and halved inflation.
“The economy has grown. Real incomes have risen.
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Ahead of Wednesday’s autumn statement, Sky News’ Ed Conway says the chancellor needs to get the national debt falling.
“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.”
In total the chancellor is expected to announce 110 different growth measures for businesses, including plans to cut tax, remove planning red tape and speed up access to the national grid.
Meanwhile, there will also be support for entrepreneurs to raise capital policies to unlock foreign direct investment and to boost productivity.
“Taken together we will increase business investment in the UK economy by around £20bn a year over the next decade and get Britain growing,” Mr Hunt will say.
The chancellor is expected to take advantage of headroom in the public finances – created as a result of higher wages and the freeze in income tax thresholds – to reduce taxes while also sticking to his fiscal rules.
They dictate that the government should have debt falling in the fifth year of the economic forecast and that borrowing should be less than 3% of gross domestic product (GDP).
In an interview with Sky News, former home secretary Dame Priti Patel expressed her desire to see tax cuts.
“This government has got the highest tax take in 70 years,” she said.
“I am an absolute advocate of making sure that hard-pressed taxpayers can keep more of their money. And you know, that is through tax cuts.
“And there are ways in which that can be achieved through targeted tax cuts, such as addressing the conundrum of fiscal drag where so many more people get dragged into the higher tax.”
Mr Hunt will also pledge to “reform welfare” in the autumn statement after already confirming a £2.5bn Back to Work plan, which aims to bring 1.1 million people back in the workforce.
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Measures in the plan including removing benefits such as free prescriptions and legal aid from job seekers who are judged not to be looking for work.
Ms Reeves said: “After 13 years of economic failure under the Conservatives, working people are worse off.
“Prices are still rising in the shops, energy bills are up and mortgage payments are higher after the Conservatives crashed the economy.
“The 25 Tory tax rises since 2019 are the clearest sign of economic failure, with households paying £4,000 more in tax each year than they did in 2010.
“The Conservatives have become the party of high tax because they are the party of low growth. Nothing the chancellor says or does in his autumn statement can change their appalling record.”
The FA has launched an investigation into allegations that suspended Premier League referee David Coote discussed giving a yellow card ahead of a match.
Mr Coote booked Leeds player Ezgjan Alioski during a match against West Brom in October 2019.
The Sun claims that the day before, he discussed carding the player with a Leeds fan he had met online, then after the game messaged him saying: “I hope you backed as discussed.”
Mr Coote insists nothing improper took place.
He said in a statement: “I strongly refute these false and defamatory allegations.
“Whatever issues I may have had in my personal life they have never affected my decision-making on the field.
“I have always held the integrity of the game in the highest regard, refereeing matches impartially and to the best of my ability.”
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The previous comments Coote made about Liverpool
An investigation has now been opened to get to the bottom of the claims surrounding the already-suspended referee.
Previously, a video emerged showing Mr Coote snorting a white powder.
That came after another video showed Mr Coote in a foul-mouthed rant about Liverpool FC and their then-boss Jurgen Klopp.
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After the most recent allegations, a spokesperson for Professional Game Match Officials Ltd (PGMOL) told Sky Sports News: “The facts need to be established in light of these very serious allegations.
“We adopt a zero-tolerance approach to any breach of our Integrity Code of Conduct, which is signed by all match officials on an annual basis.
“PGMOL Board is committed to taking the appropriate action should any breach of that Code be proven.
“David Coote remains suspended and subject to an ongoing disciplinary process by PGMOL, separate to the investigation into this matter which will be carried out independently by The FA.”
It added: “We will be making no further comment at this stage.”
Davina McCall has said she is feeling “stronger and stronger” every day after having brain tumour surgery.
In an update posted to Instagram, the TV presenter emphasised the importance of sleep during her recovery after having a benign brain tumour, known as a colloid cyst, removed.
Sporting a bruised left eye, McCall said she is being “brilliantly” looked after by her boyfriend, hairdresser Michael Douglas, and stepmum Gabby and is “just trying to sleep a lot” and “get better”.
Earlier this week, the star said she was suffering with short-term memory problems, due to the operation. But on Wednesday, she said that her memory is now “improving”.
“My short-term memory is really improving a lot every day,” she said, adding: “It has been an example to me of how much sleep helps me recover from everything.
Pic: Instagram/Davina McCall
“If I feel a bit confused or I’m struggling to concentrate, I just got to sleep, and I wake up just completely renewed and refreshed.
“I know that my brain needs lots of sleep.”
The 57-year-old ended the update by thanking fans for their “ongoing support”.
‘Out of the woods’
Speaking during a livestream on Tuesday, McCall’s partner Douglas said the star is “definitely out of the woods” during her recovery.
McCall with her partner Michael Douglas and her daughter Holly Robertson. Pic: PA
“She’s quite tired at the moment. She sleeps really well at night and goes to bed at 10pm and has a nap in the morning, and sleeps for two or three hours in the afternoon,” he said.
He added that the presenter is off work until mid-January and has “a lot of time to relax and recuperate”.
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Douglas told fans: “It’s been a very, very emotional and quite an incredible experience. We’re definitely out of the woods.”
McCall rose to fame presenting on MTV in the mid-1990s, and later on Channel 4’s Streetmate, before becoming a household name as the host of Big Brother from 2000 to 2010.
She has lived with Douglas since 2022, and together they present a weekly lifestyle podcast called Making The Cut.
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