The chancellor is on his feet at the despatch box in the House of Commons to reveal the government’s new economic policies.
Mr Hunt begins by saying that “teachers, nurses and many others” are worried about the future given the economic climate.
He says today he will unveil a plan to revive the economy.
“We are honest about the challenges and we are fair in our solutions,” he tells MPs.
“We will also protect the vulnerable,” he adds.
He says the plan will lead to “a shallower downturn” and “lower energy bills”.
The chancellor says the government has three priorities within the autumn statement – “stability, growth and public services”.
Beginning with stability, he tells MPs “the furlough scheme, the vaccine rollout and the response of the NHS did our country proud, but they all have to be paid for”.
Mr Hunt says the Bank of England has “my wholehearted support” and confirms that the government “will not change its remit”.
The chancellor says “credibility cannot be taken for granted and yesterday’s inflation figures show we must continue a relentless fight to bring it down, including a rock solid commitment to rebuild our public finances”.
He continues: “The OBR (Office for Budget Responsibility) forecast the UK’s inflation rate to be 9.1% this year and 7.4% next year.
“They confirm that our actions today help inflation to fall sharply from the middle of next year.
“They also judge that the UK, like other countries, is now in recession.
“Overall this year, the economy is still forecast to grow by 4.2%.”
Source: Skynews.com