UK Autumn Forecast Statement

Rishi Sunak is planning to decide on further tax cuts and the date of the next UK general election around February, people familiar with his thinking said, as the prime minister’s aides weigh whether to hold a vote in May or later in 2024. Chancellor of the Exchequer Jeremy Hunt’s Autumn Statement this week sparked speculation that Sunak is mulling an earlier election than expected, thanks to a fast-tracked payroll tax cut to take effect in January rather than April — giving voters the chance to feel the benefits before a spring ...

The UK prime minister, Rishi Sunak, takes questions from MPs in parliament before the chancellor delivers his autumn statement

Prime Minister Rishi Sunak has said the government is now able to cut taxes, after the pace of price rises eased. Mr Sunak said his target of halving inflation had been met so taxes would be reduced in "a responsible way". He refused to comment on "speculation" about changes to individual taxes and said there would be more details in Wednesday's Autumn Statement. But the PM said the government could now move to "the next phase" of its plan to grow the economy. Last week the government said it had met its pledge to halve inflation - ...

Chancellor Jeremy Hunt has not ruled out cutting income tax in Wednesday's Autumn Statement, as he insisted economic growth was his priority. Mr Hunt is finalising the government's spending plans as he seeks to revive a stagnant British economy. The chancellor is believed to be considering reducing taxes on income or national insurance. He told the BBC's Sunday with Laura Kuenssberg programme his speech would focus on removing barriers to growth. The chancellor was traditionally coy when it came to confirming any of the actual ...

The U.K. government on Thursday unveiled a sweeping £55 billion ($66 billion) fiscal plan as it seeks to plug a gaping hole in the public finances and restore Britain’s economic credibility, even as the country teeters on recession. Finance Minister Jeremy Hunt, in his hotly anticipated inaugural Autumn Statement, outlined around £30 billion in spending cuts and £25 billion in tax hikes. The measures included a six-year freeze on income tax thresholds and a lowering of the top rate of income tax to £125,140 — moves directly opposed ...