 will also be published and are expected to detail bleak prospects for an economy teetering on a recession.Mr Hunt will vow policies that will 'work together' with the interest rate-rising Bank of England as he 'makes sacrifices' in the form of £30 billion of spending cuts and £24 billion in tax rises over the next five years.His package will stand in stark contrast to his predecessor Kwasi Kwarteng's unfunded splurge of tax cuts less than two months ago, which further dented the UK's finances.The Resolution Foundation calculates that the so-called mini-budget made the financial shortfall £30 bill){kind=link}
Britain’s news channel
Chancellor Jeremy Hunt will promise a plan to weather an economic “storm” as he risks a backlash by unveiling a £54 billion package of tax hikes and spending cuts.
He will insist to MPs on Thursday that his autumn statement puts the UK on a “balanced path to stability” as he tackles the “enemy” of inflation, which has soared to a 41-year high.
Mr Hunt will say his “difficult decisions” are necessary to keep mortgage rates low and tackle the rocketing energy and food prices intensifying the cost-of-living crisis.