The Chancellor has delivered his Autumn Statement
The Chancellor of the Exchequer has delivered his Autumn Statement in the House of Commons. Jeremy Hunt took his place at the despatch box shortly after 11.30am and said his budget would lead to a “shallower downturn” in the UK’s finances.
Mr. Hunt said his priority was: “stability, growth and public services”. Mr. Hunt revealed that the top tax band threshold that dictates the amount of tax you pay based on your earnings has been lowered from £150,000 to £125,510 while the windfall tax levy will increase from 25% to 35% for oil and gas firms.
- 600,000 people in receipt of Universal Credit must meet with work coaches to increase the number of hours they work.- Energy price guarantee to increase from £2,500 to £3,000 for 12 months from April 2023.
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