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Date of Autumn Statement announced as Jeremy Hunt may unveil tax and triple lock changes | Personal Finance | Finance

The Chancellor of the Exchequer, Jeremy Hunt announced today that he will present the Autumn Statement 2023 to Parliament on November 22.
The Chancellor will update MPs on the country’s finances and set out changes to taxes and spending.
Mr Hunt is facing pressure to reduce taxes after they’ve been hiked to their highest level in over 70 years.
However, he insisted inflation needs to drop before levies can follow suit.
Inflation currently sits at 6.8 percent and the Government aim to drop this to two percent by the end of the year.
On Sunday, Mr Hunt said: “If we are going to put money in people’s pockets quickly, the fastest thing I can do is deliver the Prime Minister’s pledge to halve inflation.
“Because that puts not one pence in the pound which might be a tax cut but five pence in the pound in people’s pockets which they wouldn’t have had if inflation stayed high.”
The Office for Budget Responsibility (OBR) has been commissioned to prepare an economic and fiscal forecast to be presented to Parliament alongside his Autumn Statement.
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.
“It would clearly be a huge blow to the prime minister and former chancellor, not to mention the Conservative Party at the next election if he fails to deliver on one of his key economic pledges.”
Mr Selby predicts Mr Hunt could use the statement to re-commit to the state pension triple-lock – despite it being a costly and controversial policy, popular with older voters to gain supporters before the upcoming election.
Housing remains one of the biggest issues facing millions of younger people, so further help to those struggling to afford to buy their own homes could likely also be a priority.
In addition, he stated the Autumn Statement could present an opportunity for the Tories to re-establish their credentials as a low-tax political party.
He added: “They could do this by either setting out an intention to reduce tax rates or ending the deep freeze on various tax thresholds, including income tax, which has dragged millions of people into higher tax brackets.”
Business
Mobile Data Cost Dips 97% To Rs 8 Per GB, Broadband Users Up 17x In 12 Years Of Modi Govt


The cost of 1 GB of data plunged by 97% to around Rs 8-10 from Rs 269 in 2014, which led to an increase in internet usage in rural areas and opened a new world of opportunities for the people, an official document on 12 years of the Modi government said on Wednesday.
The country, in the last 12 years, has seen around a four-fold surge in internet users to 103 crore up to December 2025 from around 25 crore subscribers in 2014. Meanwhile, broadband connections have jumped by about 17 times to nearly 100 crore from six crore during the same period.
“Around 97% reduction in per GB data cost between 2014 and 2026. In 2014, the cost of 1 GB data was Rs 269, now reduced to Rs 8-10. Internet consumption increased in rural areas as compared to cities. Opened a new world of information, resources and opportunities,” the document said.
It added that 103 crore internet connections in the country indicate good digital reach and affordable internet service.
The rise in data usage in the country has fuelled the growth of the digital economy in the form of e-commerce and online services, which in turn has contributed to employment generation and GDP growth, the document mentioned.
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According to the report titled ‘Estimation and Measurement of India’s Digital Economy’ by the Ministry of Electronics and IT, India’s digital economy was estimated at 11.74 per cent of the national income in 2022-23 and in absolute numbers, it was equivalent to Rs 31.64 lakh crore ( around USD 402 billion).
Based on the projections in the report, India’s digital economy is expected to grow almost twice as fast as the overall economy, contributing to nearly one-fifth of national income by 2030.
The country has taken strides in technologies supporting digital transformation, from indigenously developed 5G telecom gears to chips that are vital for the functioning of high-tech products and equipment.
In the semiconductor manufacturing space, there were no chip plants in 2014, whereas 12 plants have been approved under the Modi government.
India has also transformed from being an importer of mobile phones to a leading exporter.
The export of mobile phones from the country has shot up by about 163 times to Rs 2.6 lakh crore from Rs 0.016 lakh crore under the Modi government.
The number of manufacturing units in the mobile devices segment has jumped to over 300 units now from just 2 units in 2014, the document said.
Aadhaar card generation has crossed the 144 crore mark from only 61.01 crore in 2014, the document said.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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Three Indians Missing After Attack On Vessel Off Oman Coast, Says MEA


India on Wednesday strongly condemned the attack on a commercial vessel near the coast of Oman, describing the targeting of civilian maritime traffic as unacceptable and reiterating the need to safeguard freedom of navigation and international shipping routes.
At least three Indian crew members are missing while 21 have been rescued after a commercial vessel off the coast of Oman came under attack.
Authorities are monitoring the situation and efforts are underway to locate the missing crew members. The incident has raised fresh concerns over maritime security and the safety of Indian nationals working on international shipping routes.
In a statement, the Ministry of External Affairs (MEA) expressed deep concern over the incident and called for restraint amid rising tensions in the region.
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The government said the safety and security of commercial shipping remain critical for global trade and energy supplies, particularly in strategically important waterways around the Gulf and the Arabian Sea.
The MEA noted that India is closely monitoring developments and remains engaged with relevant authorities regarding the situation.
It stressed that attacks on merchant vessels pose risks not only to seafarers but also to the stability of international commerce and maritime transportation networks.
The statement comes amid heightened security concerns in the region, where several commercial vessels have faced threats or attacks in recent months.
Such incidents have intensified worries over the safety of shipping lanes that carry a significant share of global energy exports and trade flows.
ALSO READ : India ‘Closely Monitoring’ Incident Involving Vessel Off Oman Coast
India reiterated its longstanding position in favour of maintaining secure and open sea lanes and urged all parties to avoid actions that could further escalate tensions.
The government stressed for the need to maintain the smooth passage of commercial ships and ensure the safety and security of seafarers navigating international waters.
The MEA said it would continue to follow the situation closely and take necessary steps in coordination with concerned stakeholders.
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PM Modi Reflects On 12-Year Tenure So Far


Prime Minister Narendra Modi on Wednesday reflected on the NDA government’s 12 years in office, highlighting poverty reduction, political stability and the vision of a developed India, while stressing the need to ensure that the country’s emerging “neo middle class” does not slip back into poverty.
While addressing NDA constituents in New Delhi on Wednesday, Modi said the government remains committed to fulfilling the aspirations of India’s youth, women, farmers and middle class, adding that public service would continue to remain its foremost priority.
“I believe that we must not let those who were poor yesterday, and have now become the ‘neo middle class’, slip back. Therefore, as a government and as public representatives, we must work day and night,” Modi said.
The Prime Minister said the government had worked tirelessly to meet the expectations of the country’s 1.4 billion citizens and would continue its efforts to realise their aspirations.
Modi also reiterated the government’s claim that more than 25 crore people have been lifted out of poverty during the past decade, describing it as one of the major achievements of the NDA administration.
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Reflecting on his tenure, Modi said he was grateful to have become India’s longest-serving Prime Minister but did not view it as a personal accomplishment.
“I never thought that this day would come. I don’t consider this as my personal achievement. This is the collective achievement of the entire NDA family,” he said.
The Prime Minister credited voters for repeatedly backing the NDA and said the public understands the importance of political stability. He contrasted the current period with what he described as an era of instability before 2014.
“Service has always been my utmost priority. The nation is witnessing a stable government,” he said, adding that India’s development remains the government’s sole objective.
Modi also reaffirmed his commitment to the goal of making India a developed nation by 2047, saying the vision of a “Viksit Bharat” has now become a national aspiration that transcends political parties and governments.
“Today, every citizen of the country is filled with the dream of a Viksit Bharat. The dream of a Viksit Bharat is no longer limited to any single individual, government or political party; it has become the dream and the resolve of every single person in the country,” he said.
The Prime Minister called upon party workers and public representatives to dedicate every moment towards achieving the goal of a developed India.
In a political swipe at the Congress party, Modi said a major success of the NDA’s 12 years in power was that the country had “broken free from the web of Congress’s machinations.”
He asserted that the government would continue working towards ensuring that the dream of a Viksit Bharat becomes a reality, while safeguarding the economic progress made by millions who have recently entered the middle class.
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