AVERAGE earners face losing hundreds of pounds and the next government faces unenviable choices over cuts to public spending in light of Jeremy Hunt’s Autumn Statement, experts warned today.
Analysis revealed that what the Chancellor gave away in national insurance deductions — £10 billion as part of a package of tax cuts worth £20 billion — was far outstripped by inflation trapping millions more people in higher income bands.
“Higher than expected inflation has added around £14 billion to the size of that fiscal drag just since March, taking the total to some £50 billion,” said Paul Johnson, director of the Institute for Fiscal Studies. Mr Hunt kept tax thresholds and allowances frozen at current levels, despite surging inflation this year.
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Denne historien er fra November 23, 2023-utgaven av Evening Standard.
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In the eye of the storm A rich account of Britain's political chaos
Tim Shipman’s fourth and final tome covers Johnson to Sunak, via Truss
Is this government full of amateurs?
Labour's hard landing has revealed a cabinet struggling with the basics
It's going to be weird when the national anthem plays, but I'm so proud to lead the United States
Emma Hayes closed the book on 12 trophy-laden years at Chelsea with her fifth consecutive Women’s Super League title in May.
Can Guardiola fix 'fragile' City after latest implosion?
Rebuilding his ageing side will bea greater challenge than building it in the first place for one of the greats
London wins battle of the global city brands again...
...but the capital still has plenty of work to do ifit wants to keep that crown
At home with...Earl of East
The duo behind the fragrance brand have made a Leyton new-build their sanctuary
How evolution evolved: the risks and rewards of gene-editing technology
INDIA BLOCKspeaks to paediatrician and TV writer Dr Neal Baer about the controversial advancement
This beloved take on Dickens is a joyful gift that keeps on giving
AIl through a bright, bitter winter day I was smiling because I was coming to see Jack Thorne's adapAtation of Charles Dickens's story again.
Market merrymaking
Bundle up in your warmest coat, hat and mittens to visit the best Christmas markets in the UK.
Festive favourites
Perfect your Christmas spread with a vibrant spin on a seasonal staple.
