We take a look at every policy announcement made by the Chancellor and what it means for your money, including: 👉 Income tax 👉 Energy bills 👉 Council tax 👉 Pensions 👉 Benefits
, which includes £55bn of tax rises and spending cuts.
With Mr Hunt having painted a gloomy economic outlook, as he notes the UK economy is still expected to shrink 1.4 per cent in 2022,takes a look through every policy announcement made by the Chancellor and what it means for your money.They had been set to change from 2026.The. This will affect some 250,000 people.
If a worker’s salary rises above this threshold, they would pay 12 per cent in National Insurance contributions, and then 2 per cent on earnings £50,270. Mr Hunt did not take the opportunity to address the fact that higher earners pay proportionally less. Mr Hunt announced in Thursday’s Autumn Statement that he will allow the cap on average bills to rise from £2,500 to £3,000 from spring as he attempts to find tens of billions of pounds in savings in a bid to restore economic stability.
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