Autumn Statement LIVE: Jeremy Hunt to confirm tax cuts as millions given record wage boost | Politics | News

Jeremy Hunt is expected to fire up the economy with tax cuts to boost British business today.

Workers on the national living wage will receive an extra £1,800 a year, the largest annual increase since its introduction.

There was also optimism last night that the state pension will increase by the full 8.5 percent expected under the triple lock.

Mr Hunt will tell MPs that he will reduce state intervention and target help at businesses to “get Britain growing”.

He is expected to say: “In today’s Autumn Statement for Growth, the Conservatives will reject big government, high spending and high tax because we know that leads to less growth, not more.

“Instead we will back British business with 110 growth measures to remove planning red tape, speed up access to the national grid, support entrepreneurs raising capital, get behind our fastest growing industries, unlock foreign direct investment, boost productivity, reform welfare, level up opportunity to every corner of the country and cut business taxes.

“Taken together we will increase business investment in the UK economy by around £20billion a year over the next decade and get Britain growing.”