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Jeremy Hunt will on Wednesday fire up the economy with tax cuts to boost British business.<\/p>\n
The Chancellor will declare the plan to secure the country\u2019s recovery after the pandemic is working but \u201cis not done\u201d yet.<\/p>\n
Workers on the national living wage will receive an extra \u00a31,800 a year in the largest annual increase since its introduction.<\/p>\n
There was also optimism last night that the state pension will increase by the full 8.5 per cent expected under the triple lock.<\/p>\n
Mr Hunt will tell MPs that he will reduce state intervention and target help at businesses to \u201cget Britain growing\u201d.<\/p>\n
He is expected to say: \u201cIn today\u2019s Autumn Statement for Growth, the Conservatives will reject big government, high spending and high tax because we know that leads to less growth, not more.<\/p>\n
Don’t miss… <\/strong> Now drivers are abandoning the Tories in another blow to Rishi Sunak<\/strong><\/p>\n \u201cInstead we will back British business with 110 growth measures to remove planning red tape, speed up access to the national grid, support entrepreneurs raising capital, get behind our fastest growing industries, unlock foreign direct investment, boost productivity, reform welfare, level up opportunity to every corner of the country and cut business taxes.<\/p>\n \u201cTaken together we will increase business investment in the UK economy by around \u00a320billion a year over the next decade and get Britain growing.\u201d<\/p>\n Mr Hunt will unveil measures to boost business investment by \u00a320billion a year, cut tax and get more people working.<\/p>\n Experts predict changes to national insurance that could help firms with the cost of employment as well as ensure their workers are better off will be announced.<\/p>\n Mr Hunt will lay out a plan to get the economy growing, debt falling and inflation down to the long-standing two per cent target that was in place before Covid and the invasion of Ukraine pushed it into double digits last year.<\/p>\n The Chancellor will say: \u201cAfter a global pandemic and energy crisis, we have taken difficult decisions to put our economy back on track.<\/p>\n \u201cWe have supported families with rising bills, cut borrowing and halved inflation.<\/p>\n \u201cThe economy has grown. Real incomes have risen.<\/p>\n \u201cOur plan for the British economy is working. But the work is not done.<\/p>\n![](\"https:\/\/cdn.images.express.co.uk\/img\/dynamic\/139\/590x\/secondary\/Minister-of-State-for-Immigration-Robert-Jenrick-L-and-Secretary-of-State-for-Business-Energy-and-Industrial-Strategy-Grant-S-5078271.jpg?r=1700601612928\")
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