It’s time for another major money announcement – the Autumn Statement. If you don’t regularly follow politics, are unsure how it works or how it affects you, here’s a very simple introduction.
The Budget is the government’s financial plan
The government decides how much money you will be taxed and where that money will be spent – and it announces the plans in a big speech in March every year.
The Autumn Statement is like a second Budget
The March Budget is supposed to be the main event and the Autumn Statement is an update half a year later on how things are going. But sometimes it’s just as big and important, especially when things have changed a lot – like a new prime minister coming in for example.
It’s delivered by the chancellor
The UK’s finance minister is called the Chancellor of the Exchequer (the exchequer is a fancy name for the government’s bank account). Right now, it’s Jeremy Hunt, who got the job after Kwasi Kwarteng’s “mini-budget” just a few weeks ago saw him get fired….
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