26:
144:
520:
320:
582:
447:
612:, reduced employee's national insurance by 2%, froze alcohol and fuel duties, increased tobacco and vapes duties, extended the oil and gas windfall tax, increased the child benefit threshold, announced further energy measures, announced further levelling-up funding, reduced capital gains tax by 4%, extended the Household Support Fund and increased the VAT threshold to £90,000 for small businesses, and kept income tax personal allowances at the same level (
542:(OBR) had forecast that the UK economy would grow much more slowly over the coming two years than had previously been predicted. Inflation would not meet the 2% target forecast for 2024. However, Hunt told the House that because the economy had "turned a corner" there would be some scope for tax cuts, and he described his statement as setting out 110 measures for growth. Measures announced in the statement included reducing the amount of
465:. In his statement, Hunt set out plans to remove barriers to employment (with measures such as an increase in the amount of free childcare), encourage business investment (with measures including a programme of tax cuts for business worth £27bn), and address labour shortages in some industries (such as the construction sector). Government help for families facing financial pressure was also extended, with the
619:
The Budget announced the "biggest ever funding boost from government" for renewable energy. Further funding for science and technology investment were announced, with more investment to come from the private sector. The budget announced more measures to protect farmers with the agricultural property
460:
The UK had narrowly avoided going into recession at the end of 2022, and although there were some signs of recovery during the weeks preceding the budget, inflation remained high and the country continued to be impacted by an ongoing
546:
contributions from 12% to 10%, making permanent a tax-break scheme for businesses purchasing equipment, a rise in the minimum wage, known as the
National Living Wage, changes to benefits criteria, and investment in manufacturing and
469:
extended for a further three months. The cap on the lifetime allowance for tax-free pensions contributions was also abolished in an attempt to encourage workers such as NHS doctors and consultants to remain in employment longer.
558:
parties, but was greeted more warmly by business. Reeves did not highlight any specific aspects of the statement, but instead criticised "the full scale of the damage to the economy" done by the
Conservatives since 2010. while
419:
In his statement, Hunt committed to maintaining scheduled public spending plans until 2025, but said that spending would slow after then. He also lowered the threshold at which earners become eligible to pay the top rate of
416:(OBR) stated the UK had entered a recession after experiencing two quarters of a shrinking economy, and predicted the UK's economy would shrink during 2023. A reduction in households' disposable income was also forecast.
424:, and announced an increase in the National Minimum Wage, as well as increases for pensions and benefits in line with inflation. The Energy Price Guarantee was extended to April 2023, but raised from £2,500 to £3,000.
592:
It was the third budget presented by Hunt since his appointment as
Chancellor, the last to be delivered during his tenure as chancellor, and the last budget to be presented by the Conservative government of
360:
In July 2023, Hunt outlined reforms to the pension industry with the aim of boosting pension pots and increasing investment in
British businesses. In a speech to business leaders, Hunt claimed the
923:
1066:
688:
412:, and saw the announcement of a five-year package of tax increases and spending cuts designed to steer the UK through recession. An economic forecast published on the same day by the
865:
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409:
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308:
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questioned whether some of the measures, such as the plans to increase childcare, could be achieved, and suggested the government would be "punished" if they were not.
1364:
807:
364:
reforms could generate £75 billion of investment into high growth businesses and increase the average Briton's pension pot by 12% over the course of their career.
457:
The statement was presented as a budget for growth, with the objective of bringing about the conditions for long-term sustainable economic growth within the UK.
514:
403:
368:
331:
195:
143:
1319:
776:
341:, delivered on 15 March 2023, was the first full budget statement to be presented by Hunt since his appointment as chancellor. Announcements included a
1244:
493:
at
Westminster, highlighted what he believed was the lack of support for families struggling financially. The pension tax changes were welcomed by the
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to replace her. Following Rishi Sunak's appointment as Prime
Minister, it was confirmed that Hunt would continue as Chancellor.
710:
527:
The statement, Hunt's second as
Chancellor, came at a time when the Conservatives were trailing in the opinion polls, with the
128:
945:
1002:
658:
609:
198:. During his time in the position, Hunt presented two budgets in 2023 and 2024 and two autumn statements in 2022 and 2023.
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150:
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338:
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called him "chancellor in name but prime minister in practice" and "the most powerful person in
Britain". The
548:
478:
241:. He swiftly appointed four economic advisors to a panel to advise him: Karen Ward (a former top advisor to
72:
567:, said the Chancellor was "right to prioritise 'game-changing' interventions that will fire the economy".
466:
346:
334:
took place on 17 November 2022 and retracted the majority of planned reforms from
Kwarteng's mini-budget.
361:
182:
Hunt was appointed
Chancellor of the Exchequer by Truss on 14 October 2022, following the dismissal of
171:
from his appointment on 14 October 2022 to his resignation on 5 July 2024, during the premierships of
1359:
25:
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described the measures as "an invoice for the economic carnage" caused by the government of
1194:
1169:"Budget 2024 live: Jeremy Hunt cuts National Insurance and extends child benefit in Budget"
1090:"Jeremy Hunt can't promise much in his Autumn Statement – but three moves may save him yet"
276:
254:
250:
246:
1320:"Budget boost for farmers and environment with extension to Agricultural Property Relief"
394:
Hunt presented two budgets in 2023 and 2024 and two autumn statements in 2022 and 2023.
1168:
242:
222:
191:
183:
168:
123:
769:"Who will succeed Liz Truss? It doesn't matter: each Tory MP is as guilty as the last"
296:
went on to name him as the third most powerful right-wing figure of 2023, behind only
1343:
425:
383:
292:
286:
210:
1245:"Spring Budget puts UK on fast-track to becoming science and technology superpower"
1059:"Chancellor's Mansion House Reforms to boost typical pension by over £1,000 a year"
538:
Hunt was under pressure to cut taxes from those on the right of his party, but the
379:
297:
270:
206:
654:
554:
The statement received a generally unfavourable reception from Westminster's main
1120:
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100:
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1032:
976:"Rishi Sunak: What will the new PM and the Autumn Statement mean for my money?"
531:
experiencing a double-digit lead, and was his last autumn statement before the
350:
261:
975:
920:"Finance minister Hunt will not stand in UK leadership contest – local media"
681:"Who are the economic experts appointed to Jeremy Hunt's new advisory panel?"
1295:"Great British Nuclear to buy two Hitachi sites for new nuclear development"
429:
354:
342:
238:
172:
84:
374:
After the Conservatives lost the election in a landslide to the opposition
201:
After the Conservatives lost the election in a landslide to the opposition
1121:"Budget 2024: Jeremy Hunt cuts National Insurance again as election looms"
485:", while Reeves said that Labour would reverse the pension tax changes.
497:, who described it as "potentially transformative for the NHS". The
268:
prime minister at the moment". This was echoed by media, including
1144:"Fiscal statement delayed until November, Downing Street confirms"
580:
518:
445:
318:
655:"Kwasi Kwarteng: PM's vision was right, says sacked chancellor"
498:
738:"Jeremy Hunt now 'de facto' prime minister, says senior Tory"
858:"How Jeremy Hunt became the most powerful person in Britain"
800:"Up was down, night was day. And was the prime minister OK?"
1033:"Budget summary: Key points from Jeremy Hunt's 2023 Budget"
585:
Hunt with his family leaving number 11 in the aftermath of
946:"Rishi Sunak cabinet: Jeremy Hunt confirmed as Chancellor"
831:"Liz Truss to face Commons in renewed leadership test"
371:. He presented the March 2024 budget on 6 March 2024.
280:
writing that many MPs believe he is now the country's
1220:"Over £1 billion budget for renewable energy auction"
1003:"Chancellor Jeremy Hunt confirms spring Budget date"
106:
94:
78:
68:
829:
1270:"AstraZeneca plans £650 million investment in UK"
711:"The UK: Is there a prime minister in the house?"
918:M, Muvija; Suleiman, Farouq (20 October 2022).
16:Jeremy Hunt's tenure at HM Treasury (2022–2024)
515:November 2023 United Kingdom autumn statement
404:November 2022 United Kingdom autumn statement
369:November 2023 United Kingdom autumn statement
8:
1375:2024 disestablishments in the United Kingdom
1119:Seddon, Paul; Morton, Becky (6 March 2024).
523:Hunt delivering his March 2024 budget speech
24:
1370:2022 establishments in the United Kingdom
349:" for three more months, investments in
645:
1365:History of the Conservative Party (UK)
889:"The New Statesman's right power list"
382:, Hunt was succeeded as chancellor by
307:, Hunt declined to stand in the party
209:, Hunt was succeeded as chancellor by
139:
48:14 October 2022 – 5 July 2024
20:
1013:from the original on 19 December 2022
899:from the original on 14 December 2023
838:from the original on 11 December 2022
491:Leader of the Scottish National Party
353:energy projects and 30 hours of free
7:
1100:from the original on 5 November 2023
982:from the original on 26 October 2022
956:from the original on 25 October 2022
926:from the original on 20 October 2022
887:Statesman, New (27 September 2023).
868:from the original on 21 October 2022
810:from the original on 21 October 2022
779:from the original on 21 October 2022
748:from the original on 18 October 2022
717:from the original on 18 October 2022
661:from the original on 14 October 2022
691:from the original on 9 January 2023
1039:from the original on 17 March 2023
1001:Smith, Daniel (19 December 2022).
736:Davies, Gareth (17 October 2022).
653:Nevett, Joshua (14 October 2022).
608:In the budget, Hunt abolished the
14:
1088:McRae, Hamish (18 October 2023).
1069:from the original on 12 July 2023
597:before the party was defeated by
565:Confederation of British Industry
481:of turning the UK back into the "
408:The budget addressed the ongoing
577:March 2024 United Kingdom budget
540:Office for Budget Responsibility
414:Office for Budget Responsibility
367:In November 2023, Hunt gave the
142:
1142:Kemp, Ellie (26 October 2022).
798:Crace, John (17 October 2022).
767:Jones, Owen (18 October 2022).
357:for working people in England.
323:Hunt in a cabinet meeting with
30:Official portrait, October 2022
225:on 14 October 2022 due to the
1:
978:. BBC News. 26 October 2022.
473:The budget was criticised by
345:freeze, an extension of the "
151:Coat of arms of HM Government
43:Chancellorship of Jeremy Hunt
1350:2020s in the United Kingdom
495:British Medical Association
260:On 18 October, Tory MP Sir
235:Chancellor of the Exchequer
221:Following the dismissal of
186:, and retained the post in
165:Chancellor of the Exchequer
53:
1401:
1385:Premiership of Rishi Sunak
1035:. BBC News. 3 March 2023.
635:Premiership of Rishi Sunak
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442:2023 United Kingdom budget
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227:September 2022 mini-budget
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118:
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23:
1380:Premiership of Liz Truss
630:Premiership of Liz Truss
1355:British chancellorships
1195:"A Levelling Up Budget"
1148:Manchester Evening News
549:artificial intelligence
264:stated "Jeremy Hunt is
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467:Energy Price Guarantee
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347:Energy Price Guarantee
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603:2024 general election
587:2024 general election
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533:next general election
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509:2023 autumn statement
463:cost of living crisis
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410:cost of living crisis
398:2022 autumn statement
322:
450:Hunt presenting his
952:. 25 October 2022.
713:. 17 October 2022.
687:. 17 October 2022.
309:leadership election
305:Truss's resignation
196:Truss's resignation
610:non-dom tax status
590:
563:, Director of the
544:National Insurance
525:
483:Sick man of Europe
477:, who accused the
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452:2023 spring budget
339:2023 spring budget
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237:by Prime Minister
950:uk.news.yahoo.com
571:March 2024 budget
561:Rain Newton-Smith
300:and Rishi Sunak.
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233:was appointed
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184:Kwasi Kwarteng
169:United Kingdom
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1327:. Retrieved
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1302:. Retrieved
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870:. Retrieved
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840:. Retrieved
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804:The Guardian
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781:. Retrieved
773:The Guardian
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750:. Retrieved
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693:. Retrieved
685:The Guardian
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663:. Retrieved
657:. BBC News.
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529:Labour Party
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376:Labour Party
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203:Labour Party
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96:Appointed by
80:Nominated by
73:Conservative
41:
18:
1360:Jeremy Hunt
1094:inews.co.uk
1017:19 December
1007:WalesOnline
922:. Reuters.
903:14 December
614:fiscal drag
595:Rishi Sunak
436:2023 budget
325:Rishi Sunak
274:, with the
231:Jeremy Hunt
217:Appointment
188:Rishi Sunak
177:Rishi Sunak
161:Jeremy Hunt
101:Charles III
89:Rishi Sunak
62:Jeremy Hunt
1344:Categories
1153:26 October
1123:. BBC News
1104:5 November
986:26 October
960:25 October
930:25 October
872:21 October
842:21 October
814:21 October
783:21 October
752:18 October
721:18 October
695:24 January
665:14 October
641:References
556:opposition
422:income tax
351:low-carbon
303:Following
262:Roger Gale
194:following
163:served as
55:Chancellor
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777:Archived
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715:Archived
689:Archived
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620:relief.
284:leader.
282:de facto
266:de facto
192:ministry
1329:7 March
1304:7 March
1279:7 March
1254:7 March
1229:7 March
1204:7 March
1179:6 March
1127:6 March
1073:12 July
601:in the
390:Budgets
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1281:2024
1256:2024
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337:His
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