The UK Chancellor of the Exchequer, Jeremy Hunt, has delivered the Autumn Statement 2023.
The Office for Budget Responsibility (OBR) reports that the UK economy has proved to be more resilient to the shocks of the pandemic and energy crisis than anticipated, but with growth forecasts for the next two years reduced and the UK inflation rate expected to be more persistently high, the Chancellor had only modest fiscal firepower at his disposal. That headroom was used to send a political message about the Conservative Party’s priorities, with tax cuts for both businesses and workers announced.
In our latest podcast, London Tax partners Peter Clements and May Smith and London Tax senior associates Josh Critchlow and Chris Gotch discuss some of the business tax measures they found the most noteworthy in the Autumn Statement 2023, including:
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