The Chancellor's big statement - what's at stake?
How will the Chancellor address the big challenges facing the economy - and what's at stake for him, for us and the UK's finances.
Jeremy Hunt has warned that βdecisions of eye-watering difficultyβ lie ahead. The country faces big economic questions, and soon weβll find out just how the Chancellor intends to answer them. We can expect to hear him announce tens of billions of pounds worth of spending cuts and tax rises in his Autumn Statement. Itβll affect the take-home pay and household budgets of millions of people β as well as money for key public services. No doubt a big consideration for the Chancellor will be what happened last time we had one of these big economic statements - Kwasi Kwartengβs so-called mini budget β less than eight weeks ago. The subsequent fallout from that had a big impact on the economy. The pound tumbled against the dollar, government borrowing costs soared and the Bank of England made an emergency intervention. Our political correspondents Nick Eardley and Helen Catt answer 5 Questions On the Chancellorβs big financial statement β whatβs at stake? Image Credit: Reuters
