Autumn Statement 2023
23 November 2023
The Chancellor announced “110 measures to help grow the economy”, including a 2% cut to the main rate of National Insurance (NI) from 6 January, alongside incentives to encourage business investment such as permanently extending the full expensing initiative.
He held off from announcing any changes to inheritance tax or income tax, despite much media speculation.
Hunt also used his speech to set out the Government’s new ‘back to work plan’, promising additional support for those with health conditions, raising the minimum wage and introducing stricter benefits rules to encourage more people to rejoin the workforce.
In this Autumn Statement report, we provide a comprehensive overview of the Chancellor’s key announcements, guiding you through the intricacies of the latest fiscal changes and dissecting the impact on businesses and individuals alike.