Delivering his analysis of today’s statement to Parliament from Chancellor Jeremy Hunt, the GB News Presenter and Economics/Business Editor Liam Halligan declared: “This was an ‘Autumn Statement for growth’. They were the words of Chancellor Jeremy Hunt.
“And he was in ho ho ho pre-Christmas Santa mode with big giveaways for business in terms of tax and also personal taxation.”
Liam highlighted the many pledges made by the Government today: “There was a benefit upgrade. Working age benefits are up 6.7% from next April. That’s worth £470 a year for five million of the UK’s lowest income households.
“The triple lock was confirmed for pensioners, so the basic state pension goes up 8.5% a year from April 2024. That’s worth the thick end of £900 per annum.
“The minimum wage was increased from £10.42 an hour to £11.44. Business pays for that of course, but it will apply if you’re 21 and 22, and not just from 23 years old as it currently does.”
Responding to Chancellor Jeremy Hunt’s many announcements today, Liam went on to go through today’s Autumn statement: “There are new investment zones in the West Midlands, the East Midlands and Greater Manchester.
“There’s more relief on business rates for some small firms and also those in retail and hospitality. A lot of small restaurants and pubs will be happy about that.
“The headline measure a cut from 12% to 10% in the main rate of employee National Insurance.”
However, Liam then revealed what the reality of this plan will still mean: “Guess what, GB News viewers and listeners.
“Despite all the smoke and mirrors, despite all the giveaways, the tax burden is still going up.
“We’re going to be paying more tax as a result of this Autumn statement rather than less. A tax burden that’s the highest for 70 years.”
