Jeremy Hunt has unveiled his Autumn Statement of tax hikes and spending cuts in the House of Commons.
The package represents a significant change from his predecessor Kwasi Kwarteng's unfunded tax cuts in the disastrous mini-budget less than two months, ago which was widely blamed for having spooked the markets.
The Chancellor, in his opening statement said: “In the face of unprecedented global headwinds, families, pensioners, businesses, teachers, nurses and many others are worried about the future. So today we deliver a plan to tackle the cost-of-living crisis and rebuild our economy. Our priorities are stability, growth, and public services.”
Shadow chancellor Rachel Reeves said “the mess we are in is the result of 12 weeks of Conservative chaos but also 12 years of Conservative economic failure".
