UK Finance Minister Jeremy Hunt delivers autumn statement
03:23
Europe
UK Finance Minister Jeremy Hunt delivers autumn statement
UK Finance Minister Jeremy Hunt delivered his Autumn Statement and announced a cut to employee National Insurance from 12% to 10% for 27 million workers. He also announced changes to benefits programs, a freeze on alcohol duty, additional business tax breaks, and a rise in the minimum wage. That's as the independent Office for Budget Responsibility sharply downgraded its growth forecasts on Wednesday and upped its inflation projections. Headline inflation came in at annual pace of 4.6% in October, its lowest reading in two years but well above the Boe's target of 2%.
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