The Chancellor's big statement - what's at stake?

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Jeremy Hunt has warned that “decisions of eye-watering difficulty” lie ahead. The country faces big economic questions, and soon we’ll find out just how the Chancellor intends to answer them. We can expect to hear him announce tens of billions of pounds worth of spending cuts and tax rises in his Autumn Statement. It’ll affect the take-home pay and household budgets of millions of people – as well as money for key public services. No doubt a big consideration for the Chancellor will be what happened last time we had one of these big economic statements - Kwasi Kwarteng’s so-called mini budget – less than eight weeks ago. The subsequent fallout from that had a big impact on the economy. The pound tumbled against the dollar, government borrowing costs soared and the Bank of England made an emergency intervention. Our political correspondents Nick Eardley and Helen Catt answer 5 Questions On the Chancellor’s big financial statement – what’s at stake? Image Credit: Reuters