Chancellor Jeremy Hunt has unveiled his Autumn Statement, with two new fiscal rules to balance the nation’s books.
Tax hikes and threshold shifts or freezes were the order of the day as inflation surges and the cost of living bites. On Wednesday, fresh data from the ONS revealed that the UK inflation rate rose to 11.1 per cent last month, which is the highest level since 1981.
The FTSE 100 closed down 0.6 per cent or 4.65 points to 7,346.54 today, while the FTSE 250 index closed up 0.05 per cent or 9.91 points to 19,122.31. Sterling fell over 1 per cent against the dollar, and now stands at $1.18, while gilt yields have ticked higher.
Read the Thursday 17 November Autumn Statement Live blog below.
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