The Chancellor of the Exchequer Jeremy Hunt delivered the government’s Autumn Statement on Thursday 17 November 2022.
These latest fiscal measures follow on from the emergency measures announced by the chancellor on 17 October 2022 which in a bid to reassure nervous markets reversed most of the former Chancellor Kwasi Kwarteng’s Growth Plan which was delivered on 23 September 2022.
In delivering the Autumn Statement the chancellor referenced the ‘unprecedented global headwinds’ which represent a significant challenge to the UK economy citing in particular the surge in energy prices exacerbated by the conflict in Ukraine. The government hopes that the Autumn Statement will achieve a fine balancing act of: assisting with tackling the cost-of-living crisis enabling it to reduce the level of public debt as a share of GDP over time and also providing markets with the requisite confidence to ensure the...
