Overview

• Chancellor Jeremy Hunt has indicated that the UK's Autumn Statement will focus on growth, hinting at potential tax cuts.
• Hunt has expressed discomfort with the current tax burden, which is forecast to hit a 70-year high, and has stated that taxes are too high and need to be reduced.
• Possible tax cuts being considered include a reduction in the 40% inheritance tax rate and an extension to 'full expensing' for businesses, which allows firms to claim back up to 25p for every £1 invested.
• Hunt has also suggested plans to improve public sector productivity and reform the welfare system.
• The Chancellor has dismissed speculation that he will stand down at the next general election, stating that he will be 'fighting relentlessly' to win his seat.