Open

Latest news

Explore insightful perspectives and expert advice on finance

Home |Latest news |2022 Autumn Statement - the economic picture

Latest news

Browse by category
Business News

2022 Autumn Statement - the economic picture

November 17 2022

Within his Autumn Statement speech, Chancellor Jeremy Hunt outlined measures to stabilise the UK economy and help boost growth.

However, the forecast commissioned by the government and published by the Office for Budget Responsibility (OBR) revealed that despite over £100 billion of additional fiscal support helping to 'cushion the blow of higher energy prices', the UK economy is still set to fall into recession.

The OBR also warned that living standards will reduce by 7% over the next two years. Living standards are not set to recover to 2021 levels until 2027/28, the OBR stated.

The UK economy is set to grow by 4.2% this year, the OBR revealed. It will then shrink by 1.4% next year and rise by 1.3% in 2024; 2.6% in 2025; and 2.7% in 2026.

Commenting on the OBR's forecast, the Chancellor said: 'The OBR confirm that because of our plans, the recession is shallower and inflation is reduced. Unemployment is also lower, with about 70,000 jobs protected as a result of our decisions.'

Here to help

Please complete the form below and our expert team will be in touch.

  • Contact details

    • *
    • *

  • What services are you interested in?

    • *

  • Message

    • *

  • Which location would you like to contact?

  • Communication

    • *Indicates a required fields.†At least one form of contact is required.

      By submitting this form, you agree that Attwoods can process your information in order to respond to your enquiry. For more information visit our Privacy Policy.

Bromsgrove
Bromsgrove

Attwoods is proudly based in the historic market town of Bromsgrove, Worcestershire

  • 182 Worcester Road
  • Bromsgrove
  • Worcestershire
  • B61 7AZ
Call us01527 874170
Learn more about BromsgroveGet in touch
Evesham
Evesham

Attwoods is proudly based in the picturesque town of Evesham, Worcestershire; nestled in the heart of the Vale of Evesham

  • 90-92 High Street
  • Evesham
  • Worcestershire
  • WR11 4EU
Call us01386 424388
Learn more about EveshamGet in touch
Pershore
Pershore

Attwoods is proudly based in the Georgian market town of Pershore, Worcestershire.

  • Perrott House
  • 17 Bridge Street
  • Pershore
  • Worcestershire
  • WR10 1AJ
Call us01386 554870
Learn more about PershoreGet in touch
  • Xero Logo
  • Gold Partner Logo
  • Sage
  • QuickBooks Platinum

The practices of Attwoods are carried on by Attwoods Accountants Limited, Attwoods Business Services Limited, Attwoods (Bromsgrove) Limited. Regulated for a range of investment business activities by the Association of Chartered Certified Accountants.