Tax cuts and reforms to benefits are the big announcements expected in Wednesday’s autumn statement.
The move from chancellor Jeremy Hunt is raising eyebrows after he warned back in September it would be “virtually impossible” to make imminent tax cuts.
However, since then inflation has fallen back towards Rishi Sunak’s target of around 5 per cent, with the size of the economy and the rate of growth also better than expected.
So, what will planned tax cuts mean for your finances? How will the proposals in the autumn statement affect your bank balance, wage slip and disposal income – if at all? And when will changes come into force?
The political ramficiations of the Autumn Budget are also worth exploring. What does Wednesday’s announcement reveal about Mr Sunak’s plans for the Tory party – and do tax cuts make things harder for Labour? Are the announcements in the autumn statement the last gasp of a dying government or a clever play to win back voters after a long stretch of political turmoil?
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