The energy industry will be hit with an expanded windfall tax of 35% - up from 25% - until March 2028 Chancellor Jeremy Hunt says a new temporary 45% levy on electricity generators will also be introduced
The chancellor is announcing tens of billions in tax rises and spending cuts in the Autumn Statement - watch live at the top of the page
Jeremy Hunt announces a freeze in income tax thresholds which will mean millions of people pay more in tax He also acknowledges the UK is in recession but says his plan will help rebuild the economy and reduce debt The point at which the highest earners start paying the top rate of tax is being lowered from £150,000 to £125,140Electric vehicles will no longer be exempt from vehicle excise duty from April 2025 to make the system "fairer", says HuntThere will be an increase in the National Living Wage from the current level of £9.50 an hour for over-23s
Hunt is also set to announce a 10% rise in the state pension, benefits and tax credits in line with September’s inflation figure
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