Add news
March 2010April 2010May 2010June 2010July 2010
August 2010
September 2010October 2010
November 2010
December 2010
January 2011
February 2011March 2011April 2011May 2011June 2011July 2011August 2011September 2011October 2011November 2011December 2011January 2012February 2012March 2012April 2012May 2012June 2012July 2012August 2012September 2012October 2012November 2012December 2012January 2013February 2013March 2013April 2013May 2013June 2013July 2013August 2013September 2013October 2013November 2013December 2013January 2014February 2014March 2014April 2014May 2014June 2014July 2014August 2014September 2014October 2014November 2014December 2014January 2015February 2015March 2015April 2015May 2015June 2015July 2015August 2015September 2015October 2015November 2015December 2015January 2016February 2016March 2016April 2016May 2016June 2016July 2016August 2016September 2016October 2016November 2016December 2016January 2017February 2017March 2017April 2017May 2017June 2017July 2017August 2017September 2017October 2017November 2017December 2017January 2018February 2018March 2018April 2018May 2018June 2018July 2018August 2018September 2018October 2018November 2018December 2018January 2019February 2019March 2019April 2019May 2019June 2019July 2019August 2019September 2019October 2019November 2019December 2019January 2020February 2020March 2020April 2020May 2020June 2020July 2020August 2020September 2020October 2020November 2020December 2020January 2021February 2021March 2021April 2021May 2021June 2021July 2021August 2021September 2021October 2021November 2021December 2021January 2022February 2022March 2022April 2022May 2022June 2022July 2022August 2022September 2022October 2022November 2022December 2022January 2023February 2023
123456
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
News Every Day |

What to expect from Autumn Statement 2022 from tax to pensions – and what it means for your money

THIS week, the Chancellor will deliver his Autumn Statement – a budget that will have huge implications for your pocket.

It will be delivered in the House of Commons on Thursday (November 17) by Jeremy Hunt.

Getty
Jeremy Hunt will reveal the Autumn Budget on November 17[/caption]

The Chancellor is looking to find up to £60billion to plug black hole in the public purse.

It is likely it will come from a a combination of tax hikes and spending cuts.

It comes after economists at the Resolution Foundation calculated that Liz Truss’s disastrous mini-budget exacerbated the problem.

Prime Minister Rishi Sunak recently admitted there will be “difficult decisions” ahead.

READ MORE MONEY NEWS

TAXING TIMES

Jeremy Hunt mulling shock tax raid on rich weeks after Truss tried to cut levy

'POOREST' BID

Jeremy Hunt's Budget won't 'completely protect' every Brit from inflation

Here are the measures that could be announced when Mr Hunt delivers the autumn statement.

Freeze tax thresholds

Rishi Sunak and Jeremy Hunt are expected to extend a freeze on the thresholds at which people start to pay the different rates of income tax.

The freeze was originally supposed to end in 2026.

This could result in more people being dragged into higher tax bands.

That is because rising wages will see more workers hit the thresholds, even though they are no better off in real terms.

The basic rate of income tax currently kicks in on earnings over £12,571, and the 40p higher rate at £50,271.

This sneaky stealth tax is expected to bring in £30 billion a year by 2026.

A stealth tax is form a tax collected in a way that isn’t obvious – and you might not even notice it.

While the government doesn’t change the headline rate, you end up paying more money.

Tax thresholds would usually be tweaked to take into account inflation and rises in earnings.

High earners income tax

Mr Hunt is mulling a shock tax raid on the rich that would see tens of thousands of extra high earners slapped with the top rate.

The £150,000 threshold at which the additional rate of income tax kicks in could be lowered and that rate of 45p in the pound even raised.

It would mark a spectacular change in direction just six weeks after Ms Truss tried to reduced it to 40p and would break a key 2019 Tory manifesto pledge not to raise income tax.

Windfall tax

The Chancellor is eyeing a fresh windfall tax grab on the eye-watering profits being made by energy giants.

The PM himself introduced the current 25 per cent levy as Chancellor to raise £7billion this year and £10billion next year.

Demands for a deeper levy flared as Shell posted profits of £8bn for just the last three months.

Mr Hunt is now expected to increase this to 35 per cent and extend the length of the new tax from 2025 until 2028.

It will also be extended to cover electricity generators.

Pension triple lock

The PM has hinted at keeping the pensions triple lock in the last few days.

With its safety previously called into question, MPs from all political parties have pleaded with Mr Hunt to keep the policy in place.

The popular triple lock sees pension payments increase in line with whichever of the following is highest:

  • Earnings – the average percentage growth in wages in Great Britain
  • Prices – the rising cost of living in the UK, as measured by the Consumer Prices Index (CPI)
  • 2.5%

In what will potentially be a major win for pensioners, so far the triple lock seems set to stay.

While the plan has yet to be confirmed, Mr Sunak said pensioners are “at the forefront of my mind”, on his trip to the G20 in Bali.

Benefits uprate

The Chancellor is understood to be in favour of uprating benefits in line with inflation next April.

Alongside the pension triple lock, what to do with Universal Credit has been a major source of contention in Westminster.

Many Tory MPs have called for benefits and inflation to stay aligned, and Mr Sunak promised this himself when he was Chancellor earlier in the year.

As things stand it looks like that will go ahead.

Council Tax

Millions of Brits could be hit with higher Council Tax bills as Mr Hunt weighs up tough options for saving the economy.

Speaking at Treasury questions today, Mr Hunt appeared to confirm he is prepared to let local authorities increase Council Tax.

Usually councils have to hold a referendum to increase rates above 2.99 per cent – but the Chancellor is thinking of scrapping that rule.

But no final decisions have been made yet.

Energy bill support

Energy bills are currently frozen at £2,500 for the typical household under the energy price guarantee.

But after the fallout of the mini-Budget and concerns over rising government debt, Chancellor Jeremy Hunt said the guarantee will only last until April.

Millions have been left in the lurch wondering what will happen to bills when the guarantee ends next year.

It was reported that the government was discussing putting the price cap back in place from April.

But today, Mr Hunt said that the energy price support will not end from next April.

Read More on The Sun

MAE-BY BABY

Pregnant Molly Mae reveals her and Tommy Fury's baby boy name

DOUBLE YOUR MONEY

Squeezed Brits in line for up to £1,100 boost under Sunak Budget plan

He did not confirm what form the support will take, or if the energy price guarantee will remain in place.

The Chancellor added that he will be announcing in the budget what that support will be.

Симферополь

Литературный салют "Следы исчезнут поколений. Но жив талант, бессмертен гений"

AMSTERDAM Walking tour and city highlights in 4K

The Bermuda Triangle Explained

AUSTRIAN AIRLINES Boeing 777 Business Class Vienna to Mauritius trip report (4K)

Intel Arc A770: 3 Month Performance Check-In

Ria.city






Read also

Davante Adams Doubles Down In Aaron Rodgers Recruitment Pitch

NFL Rumors: Former Up-And-Coming Patriots Assistant Hired By Rams

Ex-Chicago gang member says Iowa school shooting won’t deter him

News, articles, comments, with a minute-by-minute update, now on Today24.pro

News Every Day

Intel Arc A770: 3 Month Performance Check-In

Today24.pro — latest news 24/7. You can add your news instantly now — here


News Every Day

The Bermuda Triangle Explained



Sports today


Новости тенниса
Australian Open

Эксклюзив! Дмитрий Турсунов: Финал Австралии показал, кто будет доминировать в этом сезоне



Спорт в России и мире
Москва

«Локомотив» благодаря автоголу обыграл «Урарту» в товарищеском матче



All sports news today





Sports in Russia today

Москва

Не выдерживает: стали известны причины ухода Федора Емельяненко из большого спорта


Новости России

Game News

Elona Mobile 1.1.5


Russian.city


Москва

В Новосибирске с новым спектаклем выступит легендарный "Квартет И"


Губернаторы России
Хоккей

Хоккей в Клину


Шапки мужские и женские (акция от Wildberries / Y're на головные уборы)

Как современное уличное искусство и дизайн-код меняют Москву

В России выявили 8084 новых случая коронавируса за сутки

МИД РФ: США перекладывают с больной головы на здоровую, обвиняя Москву в нарушении ДСНВ


«Певец для мудаков»: Кушанашвили высказался о доходах Слепакова

Первый канал объявил новый состав наставников шоу «Голос»

Реклама на Сайтах Продюсерского центра для Артистов!

Глюкоза на Алтае показала фото в прозрачном купальнике и рассказала, кто её пропарил


Марион Бартоли: Рууд знал, что рано вылетит на Australian Open и будет готовиться к сезону потом. Считаю такой подход странным

Сафиуллин поднялся на 18 ступенек в рейтинге ATP

Блинкова потеряла три позиции в рейтинге WTA

Чем запомнится Australian Open: невероятная победа Джоковича, прорыв Хачанова и российский финал у юниоров



Определены победители финала шоу «Ледниковый период» в феврале 2023 года

Как современное уличное искусство и дизайн-код меняют Москву

Шапки мужские и женские (акция от Wildberries / Y're на головные уборы)

Гидрометцентр: небольшой снег ожидается 6 февраля в Москве


Что известно о новой трассе из Китая в Россию, которая пройдёт через Алтай

Емельяненко нокаутировали в первом раунде на турнире Bellator 290 в Лос-Анджелесе

Певцы для Ваших Песен.

Евгений Плющенко посетит Псков с новым ледовым шоу


Количество жертв в Турции в результате землетрясения выросло до 100 человек

Музей Победы вошел в топ-3 рейтинга российский музеев за 2022 год

Российская путешественница назвала главные недостатки отдыха в Турции зимой

Цены держатся и падают в Крыму и Севастополе



Путин в России и мире







Персональные новости
Russian.city

Семён Слепаков

Журналист Отар Кушанашвили осудил выходку «ушастого кумира» Семена Слепакова



News Every Day

The Bermuda Triangle Explained




Friends of Today24

Музыкальные новости

Персональные новости