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Key announcements by Rishi Sunak at the Autumn Budget

Key announcements by Rishi Sunak at the Autumn Budget

The Chancellor Rishi Sunak has presented the Autumn Budget and Spending Review in the House of Commons - here's a look at some of the key announcements.

  • Each government department is set to see a real-terms rise in spending
  • Air passenger duty will be cut to a new rate for domestic flights within the United Kingdom, while the tax will rise on 'ultra-long-haul' flights.
  • Alcohol taxes will be simplified, with taxes being based purely on the strength of the drink - the plans are expected to see some drinks become a few pence cheaper, while some stronger drinks may see slight price rises.
  • The planned increase in duty on spirits, wine, beer and cider will be cancelled.
  • Funding per school pupil in England will be increased over the next three years - though will only match 2010 levels.
  • Business rates will be discounted by 50% for pubs, cinemas, gyms and similar venues.
  • The Universal Credit taper will be cut, meaning 55p of benefit will be cut for every £1 earned above the work allowance, instead of 63p.
  • £500m will go towards reducing court backlogs.
  • Fuel duty will be frozen.
  • Banks will see their bill for extra corporation tax cut by 5%.