Autumn Statement 2023

by Tracey Heath

Published on 22nd November 2023

Here’s our reaction to the Autumn Statement.

The Chancellor talked about growth measures to back British business and rewarding work, but there wasn’t a huge amount of substance behind it.

Reducing employee National Insurance and raising the National Living Wage are good news for low income earners, but this will impact employers of those low earners, such as shops and pubs, who have to fund the wage increase.

It is good news that the small business rates relief scheme remains in place, and businesses will welcome full expensing for investment being made permanent. However, there is not a great deal in the Autumn Statement for a business of our size.

We would like to have seen Income Tax bands increased, to give people more of their income in their wages. But we take heart from duty on alcohol once again being frozen – good news for pubs and drinkers alike.

Read our full analysis of the Autumn Statement here.

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