Jeremy Hunt says help with high household energy bills will END in 2024

Jeremy Hunt warned that taxpayers will not underwrite high domestic energy bills for longer than another 18 months as he warned families had to ‘change their behaviour’ and use less power. The Chancellor said the current Energy Bills Support Scheme was projected to cost up to £120billion and its ‘cushion’ would be removed in the … Read more

Two million face paying 60pc income tax

Sean McCann, of NFU Mutual, said: “By then, the threshold will not have changed for 18 years – dragging increasing numbers of people into the higher marginal rate of tax as salaries increase to keep up with inflation.” He added: “Income between £100,000 and £125,140 is effectively taxed at 60pc, and when you add in … Read more

“The truth is we just got a lot poorer”

“ I have come here to chew bubblegum and kick ass. And I’m all out of bubblegum.” This is not a direct quote from Paul Johnson, director the Institute for Fiscal Studies think tank, but it is a close approximation. As Britain’s tax burden is set to hit its highest levels since the Second World War, … Read more

Misery for the ‘squeezed middle’: Britons face TWO DECADES of stalled wages

Jeremy Hunt today insisted ministers are doing ‘everything’ to help families with the looming slump in living standards after he was accused of hammering the ‘squeezed middle’ with a brutal £24billion tax raid. In a round of interviews the morning after his extraordinary Autumn Statement, the Chancellor said he had to be ‘honest’ about the … Read more

FTSE 100 Live 17: Pound near $1.19 as Hunt outlines Autumn Statement

1668683995 Pound just under $1.19, London stocks lower and government debt yields around 3% into fiscal statement Here’s a snapshot of the current trading across the UK’s major financial assets as the wait for detail on Chancellor Jeremy Hunt’s hotly anticipated, redrawn tax and spending plans enters its final minutes. From the government’s plans for … Read more

Chancellor Jeremy Hunt to unveil ‘difficult’ spending cuts and tax rises

J eremy Hunt is expected to promise to help the economy weather “the economic storm” as he unveils an “eye-watering” £54 billion package of tax hikes and spending cuts in his Autumn Statement on Wednesday. The Chancellor will vow to take “difficult decisions” as he sets out a plan to plug an estimated £50-60bn fiscal … Read more

Jeremy Hunt warns of ‘storm’ ahead as he prepares to unveil £24bn of tax rises

Jeremy Hunt will say that Britain must “face into the storm” as he unveils £24 billion of tax rises. The Chancellor will unveil his “plan for stability, growth and public services” in the House of Commons on Thursday, as he vows to tackle inflation, protect the vulnerable and keep mortgage rates low. His long-awaited Autumn … Read more

Council tax to soar to help fund social care

Council tax bills also include precepts from other authorities such as fire brigades, police forces and parish councils, which increase the bill yet further. Only one referendum has been held on increasing council tax above the current 2.99 per cent threshold, when the Bedfordshire police and crime commissioner suggested a 16 per cent increase in … Read more

Why the stealth tax freeze will cost families £27bn

The stealth raid has hit taxpayers much harder than expected because of soaring inflation. When Mr Sunak froze the thresholds the consumer prices index was at just 1pc – a 10th of today’s rampaging inflation rate.  Inflation and wage growth have pushed earners into higher tax bands in a phenomenon known as “fiscal drag”.  The … Read more