16 'Hidden horrors' in the small print of Jeremy Hunt's Autumn Statement
Chancellor Jeremy Hunt unveiling his Autumn Statement yesterday , and while aspects of it may bring joy to some, there are a number of details set to bring misery to others. In hour-long speech to MPs in the Commons the politician laid out the government's plans to try take back control of the economy and the chaos caused by former Pm Liz Truss and ex-Chancellor Kwasi Kwarteng.
Bombshell £250 rise for council tax payers A five per cent annual rise to council tax has been given the go-ahead by Mr Hunt, meaning Brits face as much as £250 hike in a single year. The three per cent limit on hikes without holding a referendum has been scrapped, and instead the Chancellor will let town halls raise council tax by five per cent a year indefinitely.
More government spending from 2025 In 2025, the government's spending is on course to rise. Following that, Mr Hunt will make cuts of up to £11.6bn in 2025/26 and then £23.2bn in 2026/27, and £36.3bn in 2027/28. Mr Hunt plans to rolls this out by bumping up day-to-day spending in real terms by one per cent a year. He also plans on slashing capital spending - on big infrastructure projects - by freezing it at the 2025 rate.
That'll mean 600,000 working benefit claimants having to meet with their work coach. It’s understood those who don’t co-operate can be sanctioned under the existing punishment regime. A phased rollout will begin in September 2023. Half of households to be worse off in cash terms Half of all households - everyone in the highest 50 per cent of earners - will be worse off in cash terms as a result of decisions announced in the budget. The biggest impact is caused by the £500 cut in generosity of the Energy Price Guarantee, the Treasury’s own impact assessment shows.
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