![Pinterest](https://pinterest.com/pin/create/button/?url=https://uknews.evprotec.com/jeremy-hunts-autumn-budget-2022-predictions-in-full/&media=https://uknews.evprotec.com/wp-content/uploads/2022/11/2_Prime-Minister-and-Chancellor-meet-B5-Business-Group-members.jpg&description=Brits will be hit by 'eye-watering' tax rises and spending cuts to fill a £54billion black hole left by Liz Truss crashing the economy. The Autumn Statement - which is basically like a Budget, with a few bits missing - will be announced at about 10.30am on Thursday 17 November by Jeremy Hunt. The new Chancellor 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'. The statement is set 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 and Mr Hunt admitting the NHS is on the brink of collapse. State pension and benefits are now expected to rise with 10.1% inflation, an April minimum wage rise of up to 90p an hour will be confirmed, and a new round of cost-of-living payments worth up to £1,100 is expected for the most vulnerable. But average council tax bills will rise above £2,000 a year, income tax faces a six-year stealth hike worth tens of billions, and other energy bills support will plummet. That'll add new pain for families after the Bank of England raised the base rate of interest to 3%, hiking the cost of mortgages, and inflation hit a 41-year high of 11.1%. The Bank warned the UK was heading into the longest recession in 100 years. Jeremy Hunt (left with Rishi Sunak) has warned his statement will be 'very difficult' and 'I sadly shall not be drinking any whisky' ( SIMON DAWSON/No10/UNPIXS) Mr Hunt warned his statement will be 'very difficult' and 'I sadly shall not be drinking any whisky' while he announces it. The Chancellor is trying to "balance the books". But the Tories' promise to borrow less than they raise in tax has already been put back by a decade - and could slip further. As he imposes "austerity 2.0" on millions, the Chancellor joshed: "I think eating testicles in the jungle is literally the only job in the world){kind=link}
What time is the Autumn Budget 2022? Will the state pension increase in 2023, how will income tax thresholds freeze and will Universal Credit and benefits rise? Will PIP be means tested? Here’s everything you need to know about Jeremy Hunt’s statement
Brits will be hit by “eye-watering” tax rises and spending cuts to fill a £54billion black hole left by Liz Truss crashing the economy.
The Autumn Statement – which is basically like a Budget, with a few bits missing – will be announced at about 10.30am on Thursday 17 November by Jeremy Hunt.
The new Chancellor 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”.
The statement is set 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 and Mr Hunt admitting the NHS is on the brink of collapse.