The Chancellor has released the details of the Autumn Statement in Parliament this morning. Please see the key points below:
- Freeze in income tax thresholds, meaning a stealth rise for millions of people
- Help with energy bills will also be cut back, with typical bills rising from £2,500 a year to £3,000 from April
- £900 for those on means-tested benefits, £300 for pensioner households and £150 for those on disability benefits
- The state pension, benefits and tax credits will rise by 10.1%, in line with inflation
- National Living Wage will increase from £9.50 an hour for over-23s to £10.42 from April
- The threshold for the Additional Rate of tax will be lowered from £150,000 to £125,140
- Energy firms will be hit with an expanded windfall tax of 35%, up from the 25% already levied
- Electric vehicles will no longer be exempt from vehicle excise duty from April 2025
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