Here are some of the key measures that have been announced in the Autumn Statement
National Living Wage - increased by 6.6% to £9.50 an hour
Universal Credit – making work pay by cutting the taper rate by 8%
Public sector pay – freeze to be lifted
Cost of living - £500m Household Support Fund for the most vulnerable
Young People – an extra £4.7 billion for schools & £620m for early years
Healthcare – £41 billion extra for 40 new hospitals and 50,000 more nurses
Infrastructure - £100 billion investment in roads, railways, and broadband
Business – 50% business rates cut for retail and hospitality
Housing - £11.5 billion for 180,000 affordable homes
Alcohol duties – draught beer and cider rate cut by 5%
Fuel duty - frozen
These measures have been made possible by the UK’s strong economic growth, rising wages, and lower unemployment – thanks to the Government’s responsible actions to date.
The commitments the Government are making are clear – to help working families meet the cost of living, support businesses, and improve our public services – all whilst reducing national debt and strengthening public finances.
