The Chancellor is to bill his tax and spending plans as preparing an “economy fit for a new age of optimism” as the nation recovers from the hardship of Covid-19.
His speech, along with accompanying forecasts from the Office for Budget Responsibility, should also shed light on the impact on the economy of the supply chain crisis, worker shortages and rising prices.
After 18 months of high spending, Mr Sunak will have the opportunity to restore his conservative credentials by setting out a plan for bringing borrowing under control.
Follow the latest updates below
“New age of optimism” anticipated for today’s Budget
Rishi Sunak will hail a “new age of optimism” in his Budget amid predictions he will have more money than expected to spend due to a fast bounce-back from Covid.
Rishi Sunak wears £95 designer flipflops with socks to pre-Budget meeting
The Chancellor was pictured wearing a pair of £95 Italian sliders ahead of today’s Budget.
Budget must help those on low incomes through the winter, says Jenrick
The chancellor must help those on low incomes through the winter in today’s Budget, urged Robert Jenrick.
“He is also going to have to think carefully about those people on the most modest incomes and how he can help them through a difficult period where we are seeing inflation rising, higher energy prices and so on,” he added.
MP says we will all be better off from the new Budget
The former treasury minister said we are all going to be better off from The Budget, with experts predicting that the economy has substantially grown.
Robert Jenrick told Sky News: “Therefore we are borrowing much less as a country and that gives some more room for the chancellor to invest in the future of public services which we all depend on like the NHS.”
Rishi may have more to spend as country rebounds better than expected
Rishi Sunak is thought to have more to spend in the Autumn 2021 Budget as the country has rebounded better than expected from the pandemic.
What does business want from Rishi’s Autumn Budget 2021?
Chancellor Rishi Sunak will deliver the government’s latest budget at 12.30pm in Parliament today.
More support loans, business rate reforms and more funding for skills training are among the wish list.
Reversing the rise in corporation tax plus VAT and other tax cuts is also desirable.