Autumn Statement: Energy price cap increase dampens Hunt’s ‘tax cuts’ as he denies pre-election handout – live
Chancellor insists public spending freeze in autumn statement will not result in worse public services
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Your support makes all the difference.Energy bills will rise again in a blow to millions, as analysts warned that the tax cuts unveiled in chancellor Jeremy Hunt’s autumn statement would be “dwarfed” by other tax rises already in motion.
Experts lamented that ministers had “missed the opportunity” to announce extra support for households in desperate need this winter, as Ofgem announced its energy price cap would rise by 5 per cent in January, adding £94 to a typical gas and electricity bill.
Mr Hunt defended tax cuts that will leave public services – already buckling after years of austerity – facing what economists called an “implausible” spending squeeze.
The Institute for Fiscal Studies warned Britain was on course for drastic public-sector cuts even more “painful” than the austerity of the 2010s.
The Resolution Foundation said the national insurance cuts were “dwarfed by tax rises already under way”, set to make households an average of £1,400 poorer. The think-tank also criticised the chancellor’s public spending freeze, asking: “What's the plan here? Abolish the criminal justice system and public transport maybe?”
What does the Autumn Budget mean for my money and the Tory party? Ask Sean O’Grady anything
Why now is the time for Jeremy Hunt to rescue the high street
What tax cuts can we expect, and will they make it harder for Labour?
Budget: What’s in and out of Jeremy Hunt’s autumn statement?
Hunt promises 110 measures for growth as he seeks to boost Tory election hopes
Hunt giving back only 25p for every £1 of higher taxes
The Institute for Fiscal Studies says for every £1 the Treasury has taken from taxpayers, less than 25p is coming back in tax cuts.
Its analysis shows that Mr Hunt’s tax cuts give back to taxpayers less than £1 for every extra £4 being paid in tax rises since 2021.
The freezing of tax thresholds “gradually brings more and more people into higher tax brackets, and especially so at a time of high inflation”.
The institute also says real household disposable income will still be 3% lower next year than in 2021 because of inflation.
Sunak must investigate Cameron’s Greensill tax affairs, says Labour
Sunak must investigate David Cameron’s Greensill tax affairs, says Labour
Labour also urges new foreign secretary to reveal his links to a Chinese port project
Sunak under mounting pressure as net migration soars to record high
Rishi Sunak is facing a major backlash from right-wing Tory MPs as figures showed net migration to the UK soared to a record high:
Rishi Sunak under mounting pressure as net migration soars to record high
The New Conservatives group of 35 right-wing Tory MPs said Thursday’s figures were ‘existential’ for the party
Hunt denies lying about ‘record tax cuts’ claim
Jeremy Hunt has denied being “fundamentally dishonest” by claiming his new tax cuts are “the biggest in history”:
Jeremy Hunt denies lying about ‘record tax cuts’ claim
Chancellor speaks out after BBC interviewer tells him Tory advert is ‘fundamentally dishonest’
Opinion: ‘I blame record-high immigration on Boris Johnson’s ‘cakeism’’
In 2019, the then PM reportedly told colleagues to ignore a promise on immigration, writes Sunder Katwala:
I blame record-high immigration on one man – Boris Johnson | Sunder Katwala
Having campaigned for a Leave vote, the former PM believed in controlling migration, rather than reducing it, writes Sunder Katwala. It was a classic case of trying to have his cake and eat it
Top Tory urges home secretary to apologise for ‘s***hole’ comment
A source close to James Cleverly said the home secretary instead said that Labour MP Alex Cunningham was a ‘s*** MP’:
Top Tory urges James Cleverly to apologise for Stockton North ‘s***hole’ comment
In a remarkable defence, a source close to James Cleverly said the home secretary instead said that Mr Cunningham was a ‘s*** MP’
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