Author: Laura Robinson

Beleaguered Britons face tax hikes and cuts to services after Chancellor Jeremy Hunt’s extraordinary emergency Budget unveiled today.Mr Hunt imposed the 45p top rate of income tax on another 250,000 people, announced stamp duty cuts will be scrapped, delayed the cap on the amount people pay towards social care and slapped a 35 per cent windfall tax on oil and gas giants in his brutal Autumn Statement in the Commons.Subsidies on energy bills are being downgraded to save money, with the average household bill likely to rise from £2,500 to £3,000 from April – while town halls will be freed…

Recap on MailOnline’s main coverage of the 2022 autumn statement HERE By Jack Wright and Matthew Lodge and Alastair Lockhart and Arthur Parashar For Mailonline Published: 03:31 EST, 17 November 2022 | Updated: 19:26 EST, 17 November 2022 Recap on MailOnline’s live coverage of Chancellor Jeremy Hunt’s Autumn Statement to tackle rampant inflation: Share or comment on this article: AUTUMN BUDGET 2022 RECAP: Jeremy Hunt defends brutal Autumn Statement Source link

Social media exploded with memes following Jeremy Hunt’s Autumn BudgetOne borrowed famous ‘We’re Doomed’ catchphrase from sitcom Dad’s ArmyAnother likened the announcement to apocalypse scene in The World’s EndBy Elly Blake For Mailonline Published: 07:56 EST, 17 November 2022 | Updated: 11:13 EST, 17 November 2022 Share or comment on this article: Autumn Budget 2022: ‘We’re all doomed!’ Social media users react to Jeremy Hunt’s autumn statement Source link

Pub landlords today said there was ‘no light at the end of the tunnel’ after Jeremy Hunt’s Autumn Statement – as a brewery warned pints could go up by £1.59.  Addressing the Commons, the Chancellor unveiled tens of billions of pounds worth of spending cuts and tax rises aimed at restoring Britain’s fiscal credibility and repairing a £55billion ‘black hole’ in the nation’s finances. While he insisted the UK ‘had to pay its way’, landlords insisted the ‘bleak’ state of pubs – which sustain around 800,000 jobs in the UK and are at the heart of local communities – meant they deserved extra help.   Mr Hunt…

Jeremy Hunt today announced he would increase the windfall tax on oil and gas firms and extend it to power generation firms as he seeks to raise money to plug a major hole in the public finances.The Chancellor said the levy would be increased to 35 per cent from its current rate of 25 per cent. It would also apply to electricity generators with a levy of 45 per cent being applied from January 1.  How are rising energy bills affecting you? Email [email protected] This means wind farms in UK waters will pay a higher windfall tax than the oil and gas rigs…

Britain must ‘face into the storm’ of a global downturn, Jeremy Hunt will warn today as he prepares to deliver one of the most brutal Budgets in modern history.The Chancellor will call for ‘sacrifices’ in order to bring down inflation, which jumped to a 41-year high of 11.1 per cent. WHAT TO EXPECT TODAY  Tax thresholds freezeThe ultimate stealth tax could rake in billions as a four-year freeze on income tax thresholds is extended to six years. The basic rate threshold will stay at £12,571 until 2027, while the starting point for 40p tax will be held at £50,271.Council tax…

Britain has spent recent weeks being softened up for the new Chancellor to plug a supposed ‘fiscal black hole’, estimated at about £55billion.This fiscal hole has resulted in a double threat: a round of spending cuts to public services and a wave of tax hikes, to be delivered by Jeremy Hunt today.Pretty much every tax you can think of has been rumoured to rise in the run up to the Autumn Statement and while it is unlikely they all will, you can be certain some do.But what is this fiscal black hole, why is it bad enough to warrant this,…

Britain’s standing has ‘taken a knock’ after Kwarteng’s mini-Budget, Bailey said’People were saying ‘We didn’t think the UK would do this,’ he recalledHe added ‘we’ve all got a part to play’ in mending the UK’s global standingBy John-Paul Ford Rojas For The Daily Mail Updated: 17:00 EST, 16 November 2022 The Governor of the Bank of England told MPs the UK faces a struggle to rebuild its reputation after the disastrous mini-Budget.Andrew Bailey said Britain’s standing has ‘taken a knock’ after Kwasi Kwarteng’s unfunded tax-cutting spree in September prompted chaos in financial markets.’We have damaged our reputation internationally because of…

By Alex Brummer City Editor For The Daily Mail Updated: 05:50 EST, 16 November 2022 In this Strictly Business video debate, the Daily Mail’s Ruth Sunderland and Alex Brummer discuss what the Chancellor should do in his Autumn Statement. It may be called an Autumn Statement, but Chancellor Jeremy Hunt’s first mini-budget, due to be delivered on Thursday, will be the most austere since George Osborne’s fiscal package in the aftermath of the financial crisis in 2010. All the early indications are that Hunt, with the support of Prime Minister Rishi Sunak, will seek to close an alleged ‘black hole’ of up…

Millions of savers to face Budget squeeze as ISA tax-free allowances to be frozenJeremy Hunt will unveil plans to raise £54bn to balance Gov books tomorrowEconomist Gerard Lyons warned ‘austerity’ package would not help the economyMr Hunt said people wanted the UK to be ‘a country that pays its way’By Jason Groves Political Editor For The Daily Mail Published: 18:29 EST, 15 November 2022 | Updated: 18:43 EST, 15 November 2022 Millions of savers face a budget squeeze today when Jeremy Hunt unveils plans to raise £54billion to balance the Government’s books.Whitehall sources said tax-free allowances for ISAs and other…