JEREMY Hunt will tomorrow deliver three cheers for cash strapped Brits as he freezes booze duty ahead of the party season.
The joy for drinkers comes with a cut to National Insurance for workers and a boost in the minimum wage to £11.44.
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That’s a pay rise of more than a quid for more than three million of the lowest paid.
In a major victory for our Save Our Sups campaign, beer, wine and spirits levies will not go up – and pubs and bars are likely to have their 75 per cent business rates holiday extended.
Once dubbed Scrooge for his miserly handling of the public purse, the Chancellor will use better than expected borrowing numbers to finally ease the pain on punters’ wallets.
His deputy confirmed publicly that a “personal tax cut” is coming tomorrow – with NIC rates for both the employed and self-employed
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After three years of festive trade blighted by Covid and then strikes, the move kicks starts the Christmas party season as the Tories desperately try to turn their dire poll ratings around.
Tonight the Treasury vowed to “turbo-charge economic growth in the UK, while cutting taxes and continuing to bring down inflation.”
With the triple lock untouched, the state pension is also set to increase by 8.5 per cent, keeping in step with the usual earnings measurement.
And benefit claimants are expected to receive bumps in line with September’s inflation figure of 6.7 per cent.
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The Chancellor had considered choosing October’s lower 4.6 per cent inflation figure as it would have saved the government around £3 billion.
But that carrot will come with a hefty stick.
Brits with mobility and mental-health problems will be told they could have their benefits reduced by nearly £4,680 if they fail to look for jobs they can do from home.
It will apply to all new benefit claimants from 2025 and existing ones will be getting assurances that their right to benefits will not be reassessed if they look for a work-from-home job.
The decision is said to be based on evidence that over half those in the 2.4 million sick and disabled group who want to work do not do so because they are worried about being reassessed if it does not work out.
Mr Hunt tonight revealed his twice yearly update of the nation’s finances will also boost business investment by £20 billion a year.
Firms will see the relief scheme that allows them to claim every penny they invest against their tax bill also be made permanent at the cost of more than £10 billion a year.
Mr Hunt will tell MPs at 12:30 in the House of Commons tomorrow: “After a global pandemic and energy crisis, we have taken difficult decisions to put our economy back on track.
“We have supported families with rising bills, cut borrowing and halved inflation.
“The economy has grown. Real incomes have risen. Our plan for the British economy is working.”
And despite the largest tax burden in peacetime and monster public spending during the pandemic, he will claim: “In today’s Autumn Statement for Growth, the Conservatives will reject big government, high spending and high tax because we know that leads to less growth, not more.”
And he will vow to “back British business with 110 growth measures to remove planning red tape, speed up access to the national grid and support entrepreneurs raising capital.”
Alongside the business relief scheme,, the Chancellor will claim he will boost the business to the tune of “£20 billion a year over the next decade and get Britain growing.”
Mr Hunt was handed a boost on the eve of his financial statement as figures showed borrowing came in £16.9 billion less than expected so far this year.
He is also expected to unveil a dramatically increased tax take due to higher wages and frozen income tax brackets leading to a massive haul last year for the Treasury.
Both gave the Chancellor added incentive for tomorrow’s Autumn Statement to offer the public sweeteners by cutting personal taxes.
Hit targets
The government has also hit its target of annual borrowing not exceeding 3 per cent of GDP in five years.
It comes despite official figures showing that public sector borrowing between April and October was £98 billion which was £22 billion more than the same time frame last year.
Tonight senior Tories urged No11 to hold their nerve and make sure Brits feel the rewards of the record tax haul and better than expected finances.
Ex-Cabinet Minister David Jones said: “We need to give individuals a break when it comes to personal taxes. It’s now time to deliver and I think Jeremy Hunt understands that.”
Ex-Minister Kevin Foster said: “The British people look to us as the party of aspiration and them being able to keep more of the fruits of their own labour.
“It is vital Jeremy reaffirms this in the autumn statement, by cutting taxes and spurring economic growth which benefits all,” he added.
Ruth Gregory, from Capital Economics, expects the Office of Budget Responsibility to reveal the government has a “decent buffer” after setting its fiscal rules.
She added: “With the election drawing nearer, the Chancellor surely won’t be able to resist the temptation to unveil a pre-election splash.”
Last orders
JEREMY Hunt puts the finishing touches to his Autumn Statement ahead of its reveal tomorrow.
The Chancellor and his team met in No 11 yesterday, but unlike his predecessor Rishi Sunak — who wore a hoodie — Mr Hunt ran the meeting in his suit and tie.
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