Autumn statement at-a-glance: Tax rises and spending cuts as OBR forecasts recession

By Daniel Gayne 2022-11-18T06:00:00

Chancellor sets out plan to stabilise economy

The government has re-iterated its commitment to HS2, Sizewell C and Northern Powerhouse Rail in an autumn statement which saw widespread tax rises and spending cuts and revealed that the UK is now in recession.

Chancellor Jeremy Hunt said his statement had prioritised “stability, growth and public services” but said he had to take “difficult decisions” to tackle inflation.

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