2022 Autumn Statement - the political reaction

17 Nov 2022

Addressing the House of Commons, Chancellor Jeremy Hunt used the 2022 Autumn Statement to unveil a 'plan for stability, growth and public services'.

Mr Hunt outlined a 'targeted support package for the most vulnerable', including £26 billion in support for households to combat the ongoing cost-of-living crisis; a 10.1% rise in the State Pension; a reduction in the threshold at which the highest earners begin paying the top rate of income tax from £150,000 to £125,000; and an increase in the National Living Wage (NLW) from £9.50 an hour to £10.42 an hour from April 2023.

Responding to the Chancellor's Autumn Statement speech, Shadow Chancellor Rachel Reeves commented: 'The Conservatives have picked the pockets of purses and wallets of the entire country, as the Chancellor has deployed a raft of stealth taxes, taking billions of pounds from working people.'

Meanwhile, Ed Davey, Leader of the Liberal Democrats, said: 'The sharpest fall in living standards on record will hurt everyone. This is the cost of chaos budget, the cost of Conservatives in power.'

Free consultation

Contact us via email, phone or online enquiry form to discuss and arrange your free initial consultation with us.

Get in touch »