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”.