17 November 2022 - UK headline inflation rose 11.1%

Jeremy Hunt will make the big reveal later today as he announces the results of the government's spending review, which is sure to hold a series of tax increases and cuts to public spending. He has already revealed that taxes will rise for all and that his plans will be fair for all, with everyone sharing the burden of higher taxation. One measure that has already been revealed is that the amount of help with energy payments will be scaled back as the energy price cap, the subject of so much public angst earlier in the year will be scaled back. The entire package is expected to be split 55%/45% between spending cuts and higher taxation. The usual scramble that happens when Government spending is under review, where each Ministry is tasked with looking at where budget cuts can be made, has been taking place since Hunt took up the role.