What to expect when you're expecting the Autumn Statement - here's what we know so far

Paragon Shares Plummet In Buy To Let Market
Scrapping letting agents' fees is expected to be the crown pleaser (Source: Getty)

Chancellor Philip Hammond will deliver his first Autumn Statement today - and unlike during the Osborne era, the Treasury has already given a hint of what will be in the speech:


Letting agents' fees are in the firing line: Hammond is expected to ban them in an attempt to stop households in private rental housing facing hundreds of pounds of upfront charges.

The cost of housing will also be in the spotlight, with measures expected to include £1.4bn of cash to help build 40,000 new homes, as well as a relaxation of rules around how affordable housing money can be used.

Cost of living

Hammond will also announce the latest increase in the national living wage, first established by his predecessor George Osborne in 2015. It launched at £7.20 per hour and is expected to increase to £7.50 from April next year - eventually hitting £9 by 2020. Hammond is expected to announce £4.3m in funding.

He will also move to reduce the taper on Universal Credits, benefiting roughly 3m households.

Tech and broadband

He'll announce a £1bn splurge on broadband infrastructure - £400m of which will go towards improving the services of existing fibre broadband providers, as well as a new programme of trials for 5G.

Roads and transport

He's expected to unveil a £1.3bn drive towards improving Britain's roads, prioritising small projects that will relieve congestion, and another £1.3bn focused on congestion specifically, aimed at upgrading local roads and transport networks.

There will also be £220m to tackle "pinch points" on English motorways, as well as a £72m expressway connecting Oxford, Milton Keynes and Cambridge, as recommended by the National Infrastructure Commission

A freeze on fuel duty and quite possibly cuts to air passenger duty too, after MPs urged the government to halve it (and eventually scrap it).

Helping businesses

He'll announce £2bn towards R&D by the end of this Parliament to help create higher skilled, higher wage jobs, and corporation tax will limbo lower, after Theresa May said she wants the UK to have the lowest rate in the G20.

The economy

Net public investment spending is likely to fall from the March Budget's estimate of £36bn in 2016-17

And fiscal watchdog the Office for Budget Responsibility is expected to reveal a gaping black hole of up to £100bn in Britain's finances over the next five years thanks to Brexit.

Is that everything?

One more - cold callers will get the cold shoulder: those targeting pensioners will be banned and slapped with fines.