HM Treasury

The Autumn Statement explained

Published on 24 November 2023

This week, the Chancellor delivered his Autumn Statement. After weeks of speculation about fiscal headroom, tax cuts and pre-election giveaways, the die is cast and the policies are in.

What was in it? What will the impact of his announcements be? And how sensible were the policies announced?

Joining us today are Helen Miller, Head of Tax at IFS, Ben Zaranko, Senior Research Economist and Tom Waters, Senior Research Economist at IFS.

Zooming In: discussion questions

Every week, we share a set of questions designed for A Level economics students to discuss, written by teacher Will Haines.

1. What is National Insurance and explain how the reduction in National Insurance contribution may impact the economy?

2. How has the government been able to afford the cut to National Insurance and the tax break to firms known as full expensing?

3. Referring to the changes to National Insurance, full expensing, Local Housing Authority rates and incapacity benefits, assess the potential impact of this Autumn statement on income inequality in the UK. 

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