Friday 18 November 2022

A fiscal reset?

Assessing the Autumn Statement 2022

The new Prime Minister and Chancellor have set one central objective for the Autumn Statement – restore economic credibility. They have set the test for doing so as putting the public finances back on a sustainable path by ensuring that debt is falling as a share of the economy. The size of the fiscal reset needed to achieve that is uncertain – with estimates ranging from £40-60 billion – but what is certain is that tough choices on tax and spend are coming. The Autumn Statement will reset the UK’s fiscal policy and set the course for Rishi Sunak’s entire premiership.

What approach has the Chancellor taken to navigating the hit to the public finances from rising interest rates globally and the UK specific aftermath of the mini-Budget? How has he balanced tax rises and spending cuts? Where will this leave household living standards and the quality of public services? And has the Government helped or hindered Britain’s ongoing quest for stronger economic growth?

The Resolution Foundation is hosting an event to unpack the Autumn Statement, and to debate and answer these questions. After a presentation of key highlights from the Foundation’s overnight analysis of the Autumn Statement, we will hear from leading experts – including the Chair of the Office for Budget Responsibility Richard Hughes – on what the economic and political ramifications of this landmark fiscal event are.

The event will be open for people to physically attend, alongside being broadcast via YouTube and the Resolution Foundation website. Viewers will be able to submit questions to the panel before and during the event via Slido.