The Chancellor of the Exchequer, Jeremy Hunt, has announced that he will present the Autumn Statement 2023 to Parliament on 22 November.

Hunt will use the Statement to set out future tax plans and departmental spending plans, although he may feel constrained in his ability to cut taxes and raise spending amid inflationary pressures.

He may also be more inclined to hold back favourable announcements until the spring as part of the Government's election campaign, with rules demanding a general election be held in January 2025 at the latest.

The announcement will be Hunt's third fiscal statement following his first announcement in November 2022, which came as a hurried remedy to his predecessor Kwasi Kwarteng's divisive mini-budget in September 2022.

Tom Selby, head of retirement policy at AJ Bell, said:

"Rishi Sunak has placed tackling the cost-of-living crisis front-and-centre of his premiership after pledging to halve inflation by the end of 2023.

"By the time the Autumn Statement arrives in late November, we should have a pretty clear idea of whether that target - a target the government has very limited control over - will be hit."

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