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Nov 17 • 13 tweets • 6 min read
🔴 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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The Telegraph Profile picture
Nov 17
🔴 Welfare bill soars by £90bn as Jeremy Hunt protects pensioners but clobbers workers.

Chancellor's stealth tax rises while benefits bill grows labelled as 'George Osborne rhetoric and Gordon Brown policy'

Thread 🧵⤵️
telegraph.co.uk/business/2022/…
🔴 Britain’s welfare bill is to rise by almost £90 billion after Jeremy Hunt shielded benefit claimants and pensioners from soaring inflation with a raid on workers
telegraph.co.uk/business/2022/… Image
🔴 Economists labelled the “top-heavy tax rises and back loaded spending cuts” of his Autumn Statement as “George Osborne rhetoric and Gordon Brown policy”
telegraph.co.uk/business/2022/… CREDIT: UK Parliament/Jessi...
Read 7 tweets
The Telegraph Profile picture
Nov 17
🔴 Jeremy Hunt is set to deliver his eagerly-anticipated Autumn Statement this morning as he unveils his strategy for stabilising the public finances.

Get the latest updates throughout the day ⬇️
❓What will be in the Autumn Statement?

We already have an idea of what will be in the Chancellor's statement today.

These are some of the moves expected to be announced by Jeremy Hunt 👇
telegraph.co.uk/politics/2022/… Some of the moves expected to be announced in today's Autumn
David Davis, the former Brexit secretary, has said the Autumn Statement will be "gloomy" and he does not expect there to be any rabbits pulled out of the hat by Jeremy Hunt.

Read more:
telegraph.co.uk/politics/2022/… David Davis
Read 45 tweets
The Telegraph Profile picture
Nov 16
🔴 A missile that killed two people in Poland was probably not fired from Russia, US President Joe Biden has said, after holding talks with leaders of Western allies.

Get the latest updates throughout the day ⬇️
🗣️ Downing Street has declined to comment on reports that the missile that hit Poland was fired by Ukrainian forces at an incoming Russian missile, saying that the facts needed to be established first.

Read more: telegraph.co.uk/world-news/202… Joe Biden and Rishi Sunak
🇵🇱 Poland remains a very safe country thanks to its membership in Nato, Poland's deputy foreign minister said on Wednesday.

Nato is preparing to meet in Brussels to discuss the missile that killed two people yesterday
telegraph.co.uk/world-news/202… Image
Read 11 tweets
The Telegraph Profile picture
Nov 15
🔴 Two people were killed on Tuesday when an apparent Russian missile landed in Poland, triggering warnings of a major escalation by Nato allies

Follow the live blog below for updates ⤵️
🇵🇱Poland is raising the readiness of its military units after explosions that killed two people near Ukraine border, according to Polish government spokesman Piotr Muller
telegraph.co.uk/world-news/202… Polish government spokesman...
🔴Nato has several options at its disposal after an errant rocket believed to have come from Russia reportedly hit one of its member countries, Poland, killing two people.

From sit-down talks to a full-blown military response, what are Nato's options? ⬇️
telegraph.co.uk/world-news/202…
Read 5 tweets
The Telegraph Profile picture
Nov 14
💷 Council tax to soar to help struggle in social care

Rishi Sunak and Jeremy Hunt prepare to let local authorities increase levy by 5pc without offering residents a referendum

Thread🧵⬇️
telegraph.co.uk/politics/2022/…
📈Council tax will surge past £2,000 for the average household under plans drawn up by Rishi Sunak
The Prime Minister and Jeremy Hunt, the Chancellor, are preparing to allow town halls to put up the levy by five per cent without a local referendum
telegraph.co.uk/politics/2022/… Prime Minister Rishi Sunak ...
Read 8 tweets

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