Chancellor Jeremy Hunt set out the Autumn Statement 2022 against a challenging financial backdrop, with the cost-of-living crisis affecting a growing number of households and businesses across the country.
Hunt sought to reassure the markets by pledging to work in lockstep with the Bank of England and highlighting the importance to protect the UK’s financial credibility. Noting that ‘global factors’ such as the Russian invasion of Ukraine were the main drivers of inflation, Hunt promised to safeguard stability, promote economic growth, and protect public services.
Maritime UK’s Policy and Research Manager, Giorgio Buttironi, shares his analysis of the Autumn Statement, and what it means for the maritime sector.
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