Chancellor-'Tax Cuts Virtually Impossible'

Speaking to LBC Radio, Chancellor of the Exchequer Jeremy Hunt implies that the Autumn Statement due to be delivered on 22 November will have little in the way of 'giveaways' to the public or business in the form of tax cuts. States that "Every Chancellor wakes up to newspaper headlines at least once a week that say there’s extra headroom and the Chancellor might be able to do this or do that. I really really wish it was true but unfortunately it just isn't. It makes life extremely difficult, it makes tax cuts virtually impossible and it means that I will have another set of, frankly, very difficult decisions."

• There had been speculation that a more 'generous' AS with regards to tax cuts or gov't spending increases could be seen as a sign that the Conservative gov't of PM Rishi Sunak could be gearing up for a general election in May 2024. A more downbeat assessment of the economic outlook and a maintaining of the current tax rates could be seen as a signal that the election may not be called until much later in 2024.