06 Sep 2023
The government has confirmed that Chancellor Jeremy Hunt will present the 2023 Autumn Statement on 22 November.
The Office for Budget Responsibility (OBR) has been commissioned to prepare an economic and fiscal forecast to be presented to Parliament alongside the Autumn Statement.
Many experts believe the Chancellor has already ruled out announcing tax cuts, instead deciding to focus on bringing inflation down. Mr Hunt has insisted that the current inflation rate of 6.4% must come down before levies can be reduced.
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.
'Because that puts not one pence in the pound which might be a tax cut but five pence in the pound in people's pockets which they wouldn't have had if inflation stayed high.'