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Autumn Statement Summary – November 2022

November 21, 2022

On Thursday 17th November, the Chancellor, Jeremy Hunt, unveiled his Autumn Statement to the House of Commons. As predicted, it included a number of tax rises and spending cuts, as well as increases to the minimum wage, benefits and pensions.

The main measures included:

  • Increase to the minimum wage
  • Increase to state pension payments, means-tested benefits and disability benefits.
  • Top 45% additional rate of income tax band lowered
  • Income tax personal allowance and higher rate thresholds frozen
  • Main National Insurance and inheritance tax thresholds frozen
  • Tax-free allowances for dividend and capital gains tax to be cut

You can read a summary of all the measures in the Autumn Statement in our Autumn Statement Summary

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