The truth about Hunt’s ‘tax cutting’ Autumn Statement

Coffee House Shots

The Spectator

News, Daily News, Politics

4.4 • 2.2K Ratings

🗓️ 22 November 2023

⏱️ 17 minutes

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Summary

The Chancellor today delivered his fiscal update, branding it as an ‘Autumn Statement for Growth’. In it, he announced a series of tax cuts for both businesses and workers including the decision to make 'full expensing' permanent and a surprise announcement on National Insurance, which has been cut by two percentage points for workers and simplified for the self-employed. Fraser Nelson, Kate Andrews and Katy Balls unpack the details of Jeremy Hunt's Autumn Statement.

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Transcript

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0:00.0	This episode is sponsored by Canacord Genuity Wealth Management,
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0:08.0	Can-do is more than just an attitude.
0:10.0	It's navigating today for a brighter tomorrow.
0:13.3	Visit can do wealth.com.
0:19.6	Hello and welcome to Coffee House Shots
0:21.5	the Spectators Daily Politics Podcast.
0:24.0	I'm Katie Bulls and I'm joined by Kate Andrews and Fraser Nelson
0:27.8	as we go through the autumn statement.
0:29.8	So Kate, to begin, the headline measures talk us through.
0:34.0	There are few.
0:35.3	The Chancellor said that this was an autumn statement for growth,
0:39.6	and he insisted at the start of his statement
0:42.0	that this wasn't going to be focused on big government
0:44.1	or tax rises, it was going to be the opposite.
0:47.0	We certainly did get tax cuts.
0:48.5	I think the major one is the employee cut to national insurance.
0:52.6	National insurance has essentially become a second income tax
0:55.2	because it isn't really hypothesized towards the NHS or anything else.
0:58.8	It just goes in to the general pot.
1:01.0	And for your average salaried employee that's going to be a
1:04.9	450 pound saving yearly it's thought to cost billions of pounds but the idea
	...

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