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

What the papers say – November 20

S unday’s front pages revolve around the upcoming World Cup, which continues to be the subject of controversy due to the host country’s poor human rights record. The Daily Star Sunday and the Sunday Express react to the “bizarre speech” of FIFA president Gianni Infantino on the eve of the tournament in which he hit … 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

UK to raise $65 billion from windfall tax on energy companies | CNN Business

LondonCNN Business  —  The UK government is hiking a windfall tax on oil and gas companies and extending the levy to electricity generators, as it scrambles to balance its budget amid an economic downturn. It is also investing in nuclear power for the first time in decades. UK finance minister Jeremy Hunt announced the measures … Read more

‘Difficult decisions’: Britain announces higher taxes and spending cuts in warning sign for other governments | CNN Business

LondonCNN Business  —  The United Kingdom has already entered a recession and is battling decades-high inflation, eroding standards of living for millions of people across the country. Now, Britons must also stomach higher taxes and reductions to public services as the government tries to get its finances on more solid footing — underscoring the tough … Read more

Boon for retirees as Hunt backs record state pension increase

Millions of retirees will receive the biggest pay rise on record next spring as the state pension is on track to soar past £10,000.  The Government confirmed it would keep its “triple lock” manifesto promise and the weekly new state pension will rise to £204 from April 2023, equivalent to £10,600 a year and £972 … 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