BBC: Spending cuts of about £35bn and plans to raise some £20bn in tax in the coming years are expected to be set out in Thursday's Autumn Statement.
None of Jeremy Hunt's decisions have been officially confirmed, but I understand most of the extra revenue will come from freezing tax thresholds.
The levy on energy firms is also set to rise and last for another six years. Independent forecasts are understood to have identified a gap of around £55bn in the public finances.
While the government won't confirm any of the decisions they have made so far, the shape of the building blocks are clear.
We've already heard the chancellor say that in his view filling that hole between tax revenue and government spending is absolutely imperative after the chaos of early autumn.
There is an economic debate about the urgency and necessity for doing so but the position this government takes, that we'll no doubt hear from Mr Hunt when he's on our show this Sunday, is that they have no choice.
And from the moment he became chancellor he has said in sombre tones that means tax rises and squeezing spending. » | Laura Kuenssberg, Presenter, Sunday with Laura Kuenssberg | Saturday, November 12, 2022
The Tories are not called "The Nasty Party” for nothing! They truly are "The Nasty Party”. How much more austerity are these bastards going to inflict on the country? We’ve had austerity ever since that twerp Cameron was in power. Cameron and Osborne inflicted austerity 1.0 on us. Now we must live with—or try to live with—austerity 1.1! They f****d up the last time; and they’ll f*** up this time too. The rich will get ever richer and the poor and middle class will get ever poorer. The current Chancellor of the Exchequer looks to me as though he relishes inflicting pain. Just take a look at his facial expression! A visage which tells you all you need to know about him! – © Mark Alexander
