From energy bill support to wage increases: this is what the new budget means for you

and forecasters have predicted the economy will shrink by 1.4% next year, meaning that things will get worse before they improve.

In the chancellor’s announcement, he shared that the National Living Wage would rise by 9.7% from April to an hourly rate of £10.42, an annual pay rise worth over £1,600 to a full-time worker. To help support increased fuel and energy prices, aid for households was extended beyond April for a further year through the energy price guarantee. However, he also announced that the cap would rise, taking the average annual bill to £3,000 from the current £2,500.Additional cost of living payments of £900 were promised to households on means-tested benefits next year, alongside £300 to pensioner households and £150 for individuals on disability benefit.

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Autumn Statement: Jeremy Hunt to unveil spending cuts and tax risesIncreases will rise with inflation but energy support will be scaled back, the BBC understands. So how much is MPs and minister's pay going to be cut? Wild guess but I suspect we won’t see any austerity cuts to the subsidies MPs receive for bars, restaurants and expenses! Ok
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