We already know a lot of what is coming today.
The government wants to avoid what happened a few weeks ago with the mini budget – where the markets were spooked.
So there has been a lot of what is called pitch rolling; preparing the ground for bad news.
There’s going to be a lot to chew over later. But there are a few things I think will be key.
- Freezing thresholds means millions will be paying more tax on their incomes
- Millions of households will be paying more for energy as support is scaled back from April
- There will be targeted support with the cost of living, focused on those on low incomes and pensioners
- There will be spending squeezes in government departments. Health will be protected though – and will see rises in real terms (ie when accounting for inflation
- Pensions and benefits will be increased in line with inflation (so 10%)
Source: BBC