 PA) £250 council tax bombshell Families face a £250 council tax rise in a single year after Jeremy Hunt gave the green light for 5% annual rises. The Chancellor axed the 3% limit on hikes without holding a referendum, and instead will let town halls raise council tax by 5% a year indefinitely. Treasury officials are expecting 95% of town halls to use the full 5% to reduce their cuts. It is expected to net an extra £3.3bn a year by 2026/27 and £4.8bn a year by 2027-28. The average Band D bill is already almost £2,0){kind=link}
Jeremy Hunt warned he’d be Scrooge, and he wasn’t wrong. We’ve delved into the Autumn budget statement 2022 so you didn’t have to – and rooted out the worst nasties in the small print, from council tax to house prices
Jeremy Hunt unveiled his epic misery-fest of an Autumn Statement today – battering Britain with tax rises and spending cuts.
In an hour-long speech, the Chancellor set out his plan to grapple with the financial chaos left behind by Liz Truss and Kwasi Kwarteng’s kamikaze mini budget eight weeks earlier.
He confirmed millions of people would pay more in energy bills, income tax and council tax – with half of households seeing their income slashed.
Half a million are set to lose their jobs, with living standards set to slide by 7% over two years.