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HomeSourcesmirror.co.ukBrits brace for 'eye-watering' tax rises and spending cuts in Autumn Statement

Brits brace for ‘eye-watering’ tax rises and spending cuts in Autumn Statement

The Autumn Statement is expected to confirm about £21bn of tax rises and £33bn of public spending cuts a year by 2027/28 – despite services creaking under a decade of austerity

Cash-strapped Brits are today expected to be stung by “eye-watering” tax rises and spending cuts to fill a £54billion black hole left by Liz Truss crashing the economy.

The long-awaited Autumn Statement – which is similar to a Budget – will be officially announced at about 10.30am on Thursday by Jeremy Hunt.

The new Chancellor has already warned “we’re all going to be paying a bit more tax” – and said he will be a “Scrooge” making “horrible decisions” in the run-up to Christmas.

He added: “We will be asking everyone for sacrifices”.

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