Autumn Budget – live: Jeremy Hunt to announce huge tax rises and spending cuts

Andrew Bailey says that UK economic recovery is dramatically behind US and EU

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Jeremy Hunt will shortly announce his autumn budget expected to include billions of tax rises and spending cuts.

The chancellor warned beforehand “difficult decisions” would be coming as inflation and the cost of living crisis continues to take a toll on Britons across the country.

He will promise a plan to weather an economic “storm” in a statement later this morning.

It is expected to include reducing the level earners pay the 45p rate of income tax from £150,000 to £125,000 in a move that would see 250,000 pulled into the top bracket.

He is also expected to protect the triple lock for pensioners – which guarantees pensions will rise by whichever is highest out of inflation, earnings or 2.5 per cent.

His autumn budget is expected to involve £25bn in tax rises and £35bn in spending cuts in total.

It comes the day after the ONS revealed inflation had now reached 11.1 per cent – yet another 40-year high.

1668684650Treasury posts photo of Hunt on way to parliamentThe Treasury is building suspense on their social media…

Zoe Tidman17 November 2022 11:30

1668684333Watch Jeremy Hunt’s autumn budget liveJeremy Hunt is expected to stand up in parliament to announce the autumn budget in the next five minutes.

We will be livestreaming his announcement here:

Zoe Tidman17 November 2022 11:25

1668683660Starmer attack on governmentSir Keir Starmer has launched an attack on the government just before the autumn budget:

Zoe Tidman17 November 2022 11:14

1668683213Jeremy Hunt leaves No 10 with autumn statment in handJeremy Hunt has left Downing Street carrying his autumn statement in a green folder.

Here he is:

Jeremy Hunt is due to make his autumn statement shortly

(REUTERS)

Jeremy Hunt has left Downing Street carrying his autumn statement

(Getty Images)

Zoe Tidman17 November 2022 11:06

1668682573Refugee charities call ahead of autumn budgetAnd outside the Treasury…

Zoe Tidman17 November 2022 10:56

1668682040Treasury releases slick video for budgetWe’ve got another slick video from Rishi Sunak’s government – this time from the Treasury for the autumn budget.

It opens with Jeremy Hunt preparing the country for “difficult decisions” and has cameos from other ministers.

Watch here – and stay tuned to find out what exactly these decisions will be:

Zoe Tidman17 November 2022 10:47

1668681736Number fourReminder from the FT’s chief political correspondent:

Zoe Tidman17 November 2022 10:42

1668681144Zoe Tidman17 November 2022 10:32

1668680840Dominic Raab allegationsWhile we wait for the autumn budget, The Times continue to report on allegations against Dominic Raab…

Zoe Tidman17 November 2022 10:27

1668680000What will Hunt announce?Not long to go until the autumn budget now. We’re expecting it around 11.30am this morning.

Here’s a reminder of what changes we expect him to announce:

Zoe Tidman17 November 2022 10:13