Autumn Statement set for 22 November

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Peninsula Team, Peninsula Team

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This will give the Chancellor, Jeremy Hunt, the opportunity to set out future tax plans and give some indication of whether there are likely to be any potential tax cuts before the general election, which must be held before the end of January 2025.

He will also set out departmental spending plans with pressure to address the serious problem of poor quality concrete structures in schools, which need urgent repair and have forced over 100 school closures before the autumn term starts.

A number of backbench MPs are calling for tax cuts as UK taxpayers face the highest tax burden in decades as thresholds have been frozen for five years until 2028.

The Office for Budget Responsibility (OBR) has been commissioned to prepare an economic and fiscal forecast to be presented to parliament alongside the Autumn Statement.

Earlier in November, the King's Speech is set for 7 November, when the government will set out its legislative plans for the next parliamentary session. There are suggestions that this will not include long-promised audit reform which was first proposed in 2019.

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