Autumn statement: Watch Chancellor Jeremy Hunt give his speech live
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Chancellor of the Exchequer Jeremy Hunt goes into today's autumn statement with tax-cutting announcements lined up which he hopes will boost the economy and therefore the Tories’ polling performance.
The autumn statement is seen as the 'mini-budget', and has grown increasingly important in recent years as a clue to the government's priorities. It is the Chancellor’s main opportunity to make tax and spending announcements outside of the Budget. It will take place in the House of Commons at about 12.30pm.
Many aspects of the speech have already been previewed, such as a £320m plan to help unlock pension fund investment for technology and science schemes, reforms to speed up planning for energy infrastructure and cut bills for those living near pylons, a drive to increase public sector productivity and a new “back to work” agenda to get people off welfare and into jobs.
Prime Minister Rishi Sunak has said that now his goal of halving inflation has been met, the government can work on reducing the tax burden. Measures are likely to include tax breaks for business investment, but Mr Sunak has also said he wants to “reward hard work” – which hints at cuts to income tax or national insurance.
You can watch the autumn statement live on the video on this story.