A number of major announcements are expected this week impacting how much money families across the country get. Chancellor Jeremy Hunt is to deliver his Autumn Statement on Wednesday when he will update the state of the nation's finances.

His announcements are likely to have an impact on how much money households receive up and down the country, including the amount they pay in tax, receive in pensions and benefits. It's not clear exactly what Mr Hunt will say yet.

But there are some areas he is expected to touch on. And it's possible there may be some 'giveaways' ahead of the general election next year.

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Income tax

There has been speculation Mr Hunt may cut income tax and he has not ruled it out. The Chancellor has been coming under increasing pressure from his party to cut taxes - meaning people take home more of what they earn - but he has resisted up to now due to high inflation. With inflation now falling, that pressure to let families keep more of their own money will only intensify.

Mr Hunt has said he wants to cut taxes when possible but without fuelling inflation and harming growth.


The Chancellor is likely to confirm whether Universal Credit and other benefits will rise in line with inflation from April, as would normally be expected. The Government has faced a headache, however, because of how unusually high inflation has been this year.

There have been suggestions that, in an attempt to cut spending, benefits might not rise as high as inflation. The impact would be a real-terms cut to Universal Credit and other payments because they are not rising as fast as prices in supermarkets and other places.

A rise to match inflation could be worth around £25 a month for an individual over 25. It comes as the Government prepares to launch a benefits crackdown and introduce tougher rules.


If the Government sticks to its triple lock pledge, pensioners are in line for an 8.5% increase in payments from April. The triple lock commitment means the state pension should increase every year by the highest of inflation, average earnings growth or 2.5 per cent.

This year wages, including bonuses, have risen by 8.5 per cent, which should determine the next rise this spring. Mr Hunt is likely to confirm whether that will be the case, following some questions about whether the ministers will honour its triple lock pledge.

Any attempt to diverge from the triple lock would be hugely controversial.