Jeremy Hunt has commissioned an Office for Budget Responsibility forecast, which will be presented alongside the statement.
“On Friday, the Office for National Statistics published an update to the UK’s GDP growth figures which shows the UK economy was 0.6% larger than pre-pandemic levels by the fourth quarter of 2021.
“It means our economy had the fastest recovery from the pandemic of any large European economy, thanks to decisions such as furlough that protected millions of jobs. “For that growth to continue we now need to halve inflation, which I am pleased to report is now nearly 40% below its 11% peak. I can also tell the House I will deliver the Autumn Statement on November 22,” he said.
The Treasury and new Defence Secretary Grant Shapps are also likely to come under pressure over defence funding. Mr Shapps’ predecessor, Ben Wallace, who stepped down from the role last week, had long made clear his desire for greater spending on the UK armed forces.
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