The 2023 Autumn Statement

23 NOV 2023

Will the tax cuts in Chancellor Jeremy Hunt’s Autumn Statement balance out? Read our summary to see how his announcements might impact you. Do contact us if you would like to discuss.

Please find below our summary of the Autumn Statement 2023 delivered by the Chancellor Jeremy Hunt on Wednesday 22 November. Our summary boils his 110 different proposals down to a concise report of the key points.

The Autumn Statement had been initially trailed as focusing on the longer term issues facing the country, but Mr Hunt decided to prioritise short-term tax cuts over maintaining future expenditure. The most headline-grabbing immediate moves were cuts to national insurance and placing the expensing of corporate investment onto a permanent basis.

Some of the rumoured changes, such as inheritance tax reform, did not appear, but there is still a chance – the Spring Budget is due to take place in March next year.