- The UK is now officially in a recession, Jeremy Hunt has said as he unveiled his Autumn Budget in parliament.
- The tax threshold will be lowered for the top rate of income tax, which has dropped from £150,000 to £125,000.
- A £13.6bn package of business rates support, to assist businesses through these tough times.
- The Stamp Duty cuts announced in the Growth Plan will now be ending on 31 March 2025.
- From 2025, road tax will be introduced for electric vehicles.
- The tax-free allowance for capital gains will reduce in 2023–24 from £12,300 to 6,000 and then to £3300 in 2024-25.
- The tax-free dividend allowance will be reduced to £1,000 in 2023-24, and then to £500 in 2024-25.
- Minimum wage will increase to £10.42
- Energy Price Guarantee will continue for a further 12 months from April.
- For homes using alternative fuels, e.g. heating oil, will increase to £200.