On 17 November 2022, the government undertook the third fiscal statement in as many months, against a backdrop of rising inflation and economic recession.
The Chancellor laid out three core priorities of stability, growth and public services.
The government sought a balanced path to support the economy and return to growth, partially through public spending restraint and partially through tax rises.
There is much debate about what has happened. For certain, taxes paid by almost everyone will increase, while most of the spending curbs were deferred until after the next general election; politically, an astute move. Although we refer to several statements by government in this document, we don’t necessarily agree with their sentiment.
Stay tuned to our budget page for more analysis from our experts through the day.