Proactive Investors - 11.35am: Hunt's three priorities – stability, growth and public services
Jeremy Hunt has started his statement by saying that in the face of “unprecedented global headwinds”, people are worried about the future.
So he will deliver a plan “to tackle the cost of living crisis and rebuild our economy.”
He said his three priorities will be stablity, growth, and protecting public services – but he also wants his plans to be compassionate.
We will respond to a global crisis with British values.
Hunt said his plan will lead to a shallower downturn, and higher long-term growth.
11.20am: Tax rises and spending cuts expected
The chancellor, Jeremy Hunt is set to unveil the autumn statement which is expected to include a swathe of tax rises and spending cuts aimed at reassuring the financial markets that the UK is in responsible hands following the turmoil caused by the infamous mini-budget.
Today’s announcement is expected to outline plans to cut public spending by around £30bn along with £24bn of extra taxes.
Ahead of the statement AJ Bell investment director Russ Mould said: ““If the mini-budget was what made the UK economy and its assets sickly, today is the day on which some painful medicine is delivered in the form of the Autumn Statement.”
The statement is expected at 11.30am.