Watch again: Jeremy Hunt autumn statement with tax cuts and pensions reform

Watch as Jeremy Hunt delivers the autumn statement on Wednesday 22 November.

The chancellor promised dozens of measures to boost economic growth and declared that the economy is “back on track” as he started cutting taxes and pushed for business growth ahead of next year’s election.

Mr Hunt used his autumn Budget to reduce headline rates of national insurance and make permanent a £10 billion-a-year tax break for companies that invest in new machinery and equipment.

His deputy, Laura Trott, had already indicated that individuals would benefit from a giveaway as well as measures aimed at boosting business.

The chancellor’s Commons statement contained 110 different growth measures as he seeks to revive the UK’s economy and the Tories’ election chances.

He will attempt to turn a corner after the Covid-19 pandemic and the energy price spike following Russia’s invasion of Ukraine that led to the highest tax burden since the Second World War and huge state interventions to support the stricken economy and hard-pressed households.

“The Conservatives will reject big government, high spending and high tax because we know that leads to less growth, not more,” Mr Hunt said.