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The Telegraph Profile picture
@Telegraph
Nov 17, 2022 • 13 tweets • 6 min read • Read on X
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🔴 Chancellor Jeremy Hunt has now delivered the Autumn Statement — and with it revealed his plan to plug a £55bn hole in the public finances

Thread 🧵
telegraph.co.uk/business/2022/…
🔴 Mr Hunt is filling just under half of this black hole with a package of tax hikes worth around £25bn.

'We want low taxes and sound money, but sound money has to come first,' he told MPs
telegraph.co.uk/business/econo… Image
🔴 The rest of the hole – about £30bn – will come from spending cuts.

Yet Mr Hunt was keen to stress he would be protecting key parts of public services, telling MPs: 'To be British is to be compassionate'
telegraph.co.uk/business/econo… Image
🔴 The spending cuts include:
💷 Personal taxation = £5bn
💷 Windfall tax = £10bn
💷 Business taxes = £10bn
💷 Whitehall efficiencies = £22bn
💷 Other savings = £8bn
telegraph.co.uk/business/econo…
🔴 But could you suggest a better solution?

Explore policy options below to try to reduce the deficit for yourself with The Telegraph's #AutumnStatement tool 👇
telegraph.co.uk/business/econo…
🔴 But who are the winners and losers of the Autumn Statement?

Find out here 👇
telegraph.co.uk/tax/news/winne…
🔵 Winners

House buyers
The stamp duty cuts announced in the mini-Budget will last until March 31 2025
telegraph.co.uk/tax/news/winne… Image
🔵 Winners [continued]

Pensioners
Mr Hunt confirmed that the state pension triple lock would remain in place and state pension payments will rise by 10.1pc next April, based on September's inflation figure
telegraph.co.uk/tax/news/winne… Image
🔵 Winners [continued]

Energy bill payers
The Chancellor announced how the energy support package would work after the current scheme ends in April. Average bills will be capped for 12 months at £3,000
telegraph.co.uk/tax/news/winne…
🔴 Losers

High earners
Mr Hunt confirmed that the threshold for paying the 45p top rate of income tax would be lowered from £150,000 to £125,140
telegraph.co.uk/tax/news/winne… Image
🔴 Losers [continued]

Taxpayers
The freeze on income tax and National Insurance thresholds – currently frozen until 2025-26 – has been extended by two years until April 2028
telegraph.co.uk/tax/news/winne… CREDIT: MAJA SMIEJKOWSKA/RE...
🔴 Losers [continued]

Investors
The tax-free dividend allowance will be reduced to £1,000 in 2023-24 and then to £500 in 2024-25
telegraph.co.uk/tax/news/winne…
🔴 Don't miss the key moments from the Autumn Statement and what it means for you ⤵️

telegraph.co.uk/business/2022/…

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🔴 Elderly and vulnerable Ukrainians were taken into Russian territory, stripped of their citizenship, forced to give blood and left in agony from botched medical procedures.

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🔴NEW: Russia coup latest: Wagner forces retreat as Prigozhin faces exile in Belarus

Follow all the latest updates on our Ukraine liveblog here: https://t.co/8hDD4Md9S3telegraph.co.uk/world-news/202…
🔴NEW: The US was concerned about what would happen to Russia’s nuclear weapons during the armed coup staged by Yevgeny Prigozhin, an official has said.

Follow all the latest updates on our Ukraine liveblog here: telegraph.co.uk/world-news/202…
🇷🇺A mutiny that started over differences about how the Kremlin could win the war may end what little chances of victory Russia still has.

Read the full analysis here: telegraph.co.uk/world-news/202…
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The Telegraph Profile picture
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🔴Putin to give televised address after Wagner Group 'coup'.

Follow the latest updates on our Ukraine live blog here 👉 https://t.co/OhGYo24QK7telegraph.co.uk/world-news/202…
🔴President Vladimir Putin told Russians in a televised address that the mutiny by Yevgeny Prigozhin and the Wagner group was “a stab in the back for our troops and the people of Russia.”

Follow the latest updates on our Ukraine live blog here 👉 telegraph.co.uk/world-news/202…
🇷🇺For Vladimir Putin, this is the end of the road.

He may just survive an armed rebellion by Yevgeny Prigozhin and his Wagner mercenaries but he will be permanently damaged and his Kremlin days are numbered.

Find out why here 👇 telegraph.co.uk/world-news/202…
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