The chancellor, Jeremy Hunt, presented his long-awaited Autumn Budget statement to the House of Commons today. The overriding message from the statement was clear – the UK needs to get its financial house in order.
The chancellor announced a range of tax hikes and spending cuts as part of his plan to try and get the country’s debt-to-GDP ratio under control by the middle of the decade.
The overall package of tax hikes and spending cuts are designed to raise £55bn for the public purse.
