Jeremy Hunt issued warning ahead of new budget
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Other minister arrive in Downing Street
Other Cabinet Ministers were spotted arriving in Downing Street this morning ahead of a Cabinet meeting, including Business Secretary Grant Shapps and Deputy Prime Minister Dominic Saab.
Hunt arrives in Downing Street ahead of Autumn Budget
The Chancellor has been photographed arriving in Downing Street this morning ahead of his Autumn Budget, which is set to be delivered at 11.30am.
‘Austerity measures’ not needed given ‘optimistic signs’ – SNP
The SNP has claimed the “austerity measures” expected in today’s Autumn Statement are not needed given “optimistic signs” on inflation from the Bank of England.
The budget is understood to include billions of pounds of tax rises and spending cuts.
Referring to recent analysis by the Bank of England, SNP Westminster Leader Ian Blackford told Sky News: “I think it really brings into question a lot of the austerity measures that we know that the Chancellor is going to bring in today.
“He doesn’t need to be doing this, it’s a political choice as much as anything else.”
Pensions triple lock expected to stay
Jeremy Hunt is today expected to protect the triple lock for pensioners.
Here’s a look at what this means.
‘Really welcome’ that statement will come with OBR forecast
Harriett Baldwin, Chairwoman of the Treasury Select Committee, said it was “really welcome” that the Chancellor’s Autumn Statement will be followed by a forecast from the Office for Budget Responsibility.
This will be delivered at 2pm.
Ms Baldwin told Sky News that the forecast should “help to reassure the markets that there is someone marking the Chancellor’s homework”.
Labour urges Hunt to ‘take responsibility’
The Labour Party has urged Jeremy Hunt to “take responsibility” ahead of his Autumn Budget later today.
Pat McFadden, Shadow Chief Secretary to the Treasury, told Sky News the UK is stuck in a “Conservative doom loop of emergency statements”, adding that the Chancellor should begin his statement by “taking responsibility”.
Mr McFadden added: “I think he should acknowledge their responsibility for what’s happened. I don’t think he should pretend the mini-budget was just a bad dream.”
Statement to help deliver ‘long-term stability’, Sunak claims
In a video released today by the Treasury, the Prime Minister has claimed the Autumn Budget will outline plans for helping to deliver “long-term stability”.
Chancellor Jeremy Hunt also said: “Today, we’re having to make some difficult decisions to restore stability, bring inflation down and balance the nation’s books.”
Ministers ‘wasted billions’ on luxury party villa ahead of tax raid
The Government has been scolded for wasting £14billion of taxpayers’ money since the start of last year on a luxury villa, vegan ice cream and more.
Millie Cooke and Katherine McPhillips reports: “An analysis of financial disclosures from the start of last year, conducted by the Telegraph, found billions of pounds were wasted on Covid-related support, unused or broken protective equipment and seemingly frivolous items, such as £6,000 on a villa in Italy.
“The wasteful spending would be enough to cover the courts, prisons and probation budget for a year.
It would also be enough to fund more than half of Jeremy Hunt’s expected increase in taxes.”
Read more here.
Government hopes to grip ‘enemy’ of inflation
Jeremy Hunt has claimed his Autumn Statement, to be delivered later today (see below), will grip the “enemy” of inflation.
Daily Express Deputy Political Editor Martyn Brown reports: “Vowing to put the country on a ‘balanced path to stability’, Jeremy Hunt will insist his Autumn statement will grip the ‘enemy’ of inflation, which has soared to a 41-year high of 11.1 percent.
“Mr Hunt will say his ‘difficult decisions’ are necessary to keep mortgage rates low and tackle the rocketing energy and food prices intensifying the cost-of-living crisis.
“But Tories on the right of the party are already voicing anger about the prospect of raising taxes, while energy bill support is likely to be scaled back and public services face cuts.”
Read more here.
Timings for today
The Chancellor is today set to deliver his Autumn Statement at around 11.30am.
This will be broadcast live on most major news channels, and will also be available online at Parliament Live TV.
Following the statement, the Office for Budget Responsibility will give a briefing on the economic outlook at 2pm.
Hunt warns of ‘storm’ ahead
Jeremy Hunt has warned Britons they must “face into the storm” as he prepares to unveil his highly-anticipated Autumn Budget.
The Chancellor’s economic statement is set to unveil £24billion of tax rises and around £30billion of spending cuts.
He said the speech will reveal his “plan for stability, growth and public services”.
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