💷 If you're feeling a bit disorientated by the chancellor's autumn statement, you're not alone, writes Sky's BethRigby. Read her full analysis 👇
targeting £55bn of fiscal consolidation, plus tax rises of £25bn and spending cuts at £30bn.
There were windfall taxes on energy companies , a freeze on National Insurance thresholds for extra money for employers , a cut to the 45p rate of tax threshold to £125,000 , changes to capital gains and dividends tax , and a reversal of Kwarteng's stamp duty cuts .On spending, too, the Tories are prioritising extra money for the NHS and for schools over the next two years, paid for in part from the overseas aid budget.
"They've shot Labour's fox," is how one senior economist put it to me, as Mr Hunt borrowed some of Sir Keir Starmer's tax plans, put more money into public services and saved the spending cut pain until after the general election.Mr Hunt also threw the gauntlet down to Labour as to how they'd pay for improved public services.
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