🔴 Electric vehicle owners will have to pay road tax for the first time ➡️ Jeremy Hunt said the move was designed to make the motoring tax system 'fairer' Follow the latest updates on the Autumn statement here ⤵️
In a gloomy address to MPs, the Chancellor said the Office for Budget Responsibility has judged that the UK is now in a recession in the face of “unprecedented” global headwinds.
Mr Hunt also said that those earning more than £125,140 would be dragged into paying the top rate of income tax. Increases annual budgets for key public services, which includes £2.3bn for schools, £3.3bn for the NHS and £4.7bn for social careMr Hunt confirmed two new fiscal rules will be introduced, the first is that underlying debt must fall as a percentage of GDP by the fifth year of a rolling five-year period. The second is that public sector borrowing, over the same period, must be below three per cent of GDP.Following the stealth tax rises, Mr Hunt moved on to business taxes.
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