Autumn Statement 2023 Summary Report

ON 22 NOVEMBER 2023, JEREMY HUNT DELIVERED THE ‘AUTUMN STATEMENT FOR GROWTH’.

Against an improving economic backdrop, the Chancellor is keen to stimulate economic growth and highlighted 110 measures for businesses.

There was quite a lot of hype in the build up to the announcement, particularly around cuts to taxation. However, the Chancellor proceeded with caution, perhaps not wanting a repeat of the disruption which followed last year’s statement by his predecessor, Kwasi Kwarteng.

There were cuts made to National Insurance rates. However, the fiscal drag of frozen tax thresholds amongst high inflation in essence means effective tax increases for many. In addition, there were significant statements relating to the reform of work-related state benefits.

READ OUR SUMMARY REPORT . AUTUMN STATEMENT 2023

WE CAN HELP

We’ve covered comprehensive information about the Autumn Statement in this report. As we move into 2024, there are a lot of tax changes already scheduled, plus we can expect more with a Spring Budget and a general election on the horizon. As always, if you have specific queries about how the budget relates to you or your business, please do get in-touch. We are here to work alongside you and help you prosper so please do contact us at any time.

READ OUR SUMMARY REPORT . AUTUMN STATEMENT 2023