UK Chancellor Jeremy Hunt is outlining the government’s financial plans for the year ahead in a press conference. Euronews Business breaks down the key announcements.
Chancellor of the Exchequer, Jeremy Hunt, is outlining the UK government's economic plans for 2024. Here's some of the key takeaways.
Benefits to rise
Hunt pledged that benefits will increase next year by 6.7%, which was the inflation rate level for September.
He said that this applies to means-tested benefits such as Universal Credit and disability benefits.
In October, headline inflation came in at an annual 4.6% in October. It marked the lowest reading in two years. However, it remains well above the Bank of England's 2% inflation target.
Source: Euronews
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