Published: 06/09/2023 By Hannah DuncanHM treasury have decided that Wednesday 22nd November will be the date of the Autumn 2023 Statement. Chancellor Jeremy Hunt will therefore be announcing the Autumn Statement to parliament, followed by the office for budget responsibility (OBR) who have been commissioned to present their economic and fiscal forecasts.
It is believed the focus will be on halving inflation as this was one of the 5 key promises made in January from Prime Minister Rishi Sunak. As of July, the UK inflation was down to 6.8% from 7.9% in June. The Chancellor recently stated 'If we are going to put money in people's pockets quickly, the fastest thing I can do is deliver the Prime Minister's pledge to halve inflation.'
Sad news for many who were perhaps hoping for tax cuts as the thresholds have been frozen for 5 years until 2028.