AUTUMN STATEMENT LIVE: Hunt puts 45p tax at £125k, stages a stealth income tax raid on all and slashes CGT and dividend allowances
- Chancellor Jeremy Hunt unveiled tax hikes and spending cuts across the UK
- ONS figures published on Wednesday showed UK inflation has reached 11.1%
Chancellor Jeremy Hunt has unveiled his Autumn Statement, with two new fiscal rules to balance the nation’s books.
Tax hikes and threshold shifts or freezes were the order of the day as inflation surges and the cost of living bites. On Wednesday, fresh data from the ONS revealed that UK inflation surged to 11.1 per cent last month, which is the highest level since 1981.
The FTSE 100 and FTSE 250 are down 0.1 and 0.2 per cent, respectively, in afternoon trading. Sterling has fallen by more than 1 per cent against the dollar, while gilt yields have ticked higher.
Read the Thursday 17 November Autumn Statement Live blog below.
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