Autumn statement 2023
On 22 November, Jeremy Hunt will deliver an autumn statement to the House of Commons. He will present the latest independent forecasts produced by the Office for Budget Responsibility (OBR) and announce changes to his tax and spending plans.
At the budget in March, Hunt met his fiscal rules with only £6.5 billion of headroom. Lots has changed since, with both interest rates and inflation now higher than expected then. We will find out whether the OBR’s projections for debt have improved or worsened, and how the chancellor responds. Will he be forced to find spending cuts or tax rises to remain compliant with his rules? Or will he have additional fiscal space to spend more on struggling public services or the tax cuts he has said he would like to be able to deliver? He has said he wants to deliver policies that promote growth: will the policies he announces meet that aim?
The Institute for Government will be setting out the key choices facing Hunt in advance of the statement, and analysing the statement itself through commentary, podcasts and events afterwards.
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