Jeremy Hunt has outlined a package containing “difficult decisions” that amounts to a “substantial tax increase” in an autumn statement he said would put the UK on a “path to stability”.
The Chancellor said he was having to make difficult decisions to ensure a “shallower downturn”, but the economy was still expected to shrink 1.4% in 2023.
The budget means government spending will continue to increase in real terms every year for the next five years, but at a slower rate than previously planned.
What does it mean for you? Here’s the key highlights.