The View from Westminster

Wednesday, November 22, 2023 'Ticking time bomb' So Jeremy Hunt pulled a "rabbit from the hat" after all. The chancellor slashed national insurance by 2 per cent – boasting that he had delivered the "biggest package of tax cuts since the 1980s". It did not stop him being accused of a "stealth" tax grab of £200bn because of frozen threshold. Official forecasts making clear that Britain's tax burden will still reach a record high in the decade ahead. More worryingly for Mr Hunt and Rishi Sunak, sensible economists were scathing about the impact of the tax giveaway – warning of £19bn-worth of real-terms spending cuts ahead. Has the chancellor set a "ticking time bomb" of austerity for a Labour government? The Resolution Foundation said he has left the next government "implausibly large spending cuts". The Institute for Fiscal Studies said the tax cuts "will not prove to be sustainable". And the Institute for Government said Mr Hunt has "abdicated responsibility". Quiz question  Which two US presidents since WW2 had not previously held elected office? Answer at the bottom of today's email Daily briefing What's in and out of Jeremy Hunt's autumn statement? The chancellor revealed a 2% national insurance cut, as he claimed Tory economic plan is 'working' Tax projection calculator: See how autumn statement will affect you Enter your details to see whether you're better or worse off following chancellor's budget as he cuts national insurance What Jeremy Hunt's Autumn Statement means for house prices Forecasters delivered disappointing news for homeowners as they are set to lose thousands next year Most commented Articles driving the biggest conversations Send asylum seekers to remote Scottish islands, says Tory deputy chair Lee Anderson Why the chancellor's 'back to work' plans won't work Everything you need to know about the autumn statement Winners and losers from Jeremy Hunt's autumn statement What does Jeremy Hunt's autumn statement mean for your benefits? Martin Lewis reveals snap verdict on budget as government reveals 'rabbit from the hat' Rachel Reeves quotes The Independent during Budget clash with Hunt Reading list The Independent's associate editor Sean O'Grady was on hand to explain how planned tax cuts and benefits reforms could affect your wallet and confidence in the Tory party. You can see the Ask Me Anything session here. Tom Hamilton on why Tory attacks on Labour are so rubbish. Home secretary James Cleverly has denied claims that he called a Labour MP's constituency a "s***hole".  Tax officials are said to be examining whether David Cameron failed to fully disclose perks such as flights on private jets when he worked for collapsed lender Greensill Capital. Kirstie Allsopp says she doesn't want to live in a new-build detached house. Inside the bubble Our political commentator Andrew Grice has his say on the autumn statement After thrashing around for a strategy, Rishi Sunak finally has a credible narrative thanks to the cut in national insurance contributions (NICs) announced by Jeremy Hunt in his autumn statement. For months, the chancellor told us he could not reduce taxes, but suddenly changed gears at the weekend. He allowed expectations of a 1 per cent cut in employees' NICs to run, securing days of favourable headlines about tax cuts, but still held back a rabbit for today: the cut will be 2 per cent and will take effect in January rather than next April as expected. Anyone would think it will be an election year. Now the rate of inflation has halved, Sunak can claim with a straight face that his plan is working. It was noticeable that Hunt repeatedly defended the Tories' record since 2010, a far cry from Sunak's criticism of a failed 30-year status quo only last month. Hunt's approach is more realistic: voters will hardly forget the Tories have been in power for 13 years.   Read more here Quotation of the day "If after 18 months of intensive support jobseekers have not found a job, we will roll out a programme requiring them to take part in a mandatory work placement to increase their skills and improve their employability. And if they choose not to engage with the work search process for six months, we will close their case and stop their benefits." Chancellor Jeremy Hunt was heckled as he announced benefits will be stopped in autumn statement Quiz answer: Dwight Eisenhower (Supreme Allied Commander Europe) and Donald Trump (business person and TV personality) The Independent proudly partners with Refuge and the National Domestic Abuse Helpline: 0808 2000 247 Join the conversation or follow us Download the free Independent app Please do not reply directly to this email   You are currently registered to receive The Independent's View From Westminster newsletter.   To unsubscribe from The Independent's View From Westminster newsletter, or to manage your email preferences please click here.   This e-mail was sent by Independent Digital News and Media Ltd, 14-18 Finsbury Square, London EC2A 1AH. Registered in England and Wales with company number 07320345 Read our privacy notice and cookie policy