On Thursday 17 November, The Chancellor of the Exchequer, Jeremy Hunt, delivered the 2022 Autumn Statement. Mr Hunt laid out his plans to try and fill the gaps in the government's finances as we all struggle with rising costs and significant global economic challenges that are having an adverse effect on the UK’s economy.
He stated that his priorities are stability, growth and public services. He told us that he is providing "fair solutions" despite having to make some "difficult decisions”. Mr Hunt also said that economic stability relies on fiscal sustainability. The Autumn Statement sets out the government's plans to try to reduce the national debt over the medium term.
By reducing the servicing costs of the current debt, investing more money in to public services and supporting the Bank of England's attempts to get on top of inflation, they hope to provide businesses with the stability and confidence they need to invest and grow in the UK. Mr Hunt said this is a "very balanced package,” insisting that decisions have been made in a "fair way.”