The Chancellor Jeremy Hunt has outlined tax and spending plans to "put our economy back on track".

Mr Hunt shared Government plans after arriving in the Commons with "good news" - before noting it was his wife's birthday. He then laid out plans that will affect everything from pay, benefits, and pensions, after explaining efforts to balance the economy are "working but the work is not yet done".

The Chancellor said "high spending, high tax leads to less growth, not more". As he promised to "reward work" and "back British business".

READ MORE: DWP State Pension increase confirmed - here's how much you'll get

READ MORE: DWP Universal Credit payment changes confirmed in Autumn Statement

The Prime Minister had earlier stated he planned to cut taxes despite breaking a key Tory manifesto pledge not to increase national insurance just 18 months ago.

Here are some of the key points from Chancellor Jeremy Hunt's Autumn Statement, as well as how new changes could affect you:

Universal Credit and other DWP benefits to rise

Contrary to earlier whispers, Universal Credit and other benefits are due to increase next April by 6.7%, the inflation figure from this September. The Chancellor had been thinking about using the lower inflation figure from October, which was 4.6%.

This would have meant low income families would lose hundreds of pounds each.

State Pension increase

Under the triple lock, the State Pension usually rises each April by inflation, wages or 2.5% – whichever is higher. Office for National Statistics (ONS) figures released on Wednesday showed that Consumer Prices Index (CPI) inflation was at 6.7% in September.

But wages have been rising at a higher rate, and the Chancellor confirmed in his Autumn Statement on Wednesday (November 22) that this figure of 8.5% will be used in the pension rise formula for 2024.

The current full State Pension is £203.85 per week, or £10,600.20 each year. An 8.5% increase will see payments boosted by just over £900 across twelve months.

Inflation

Mr Hunt said inflation has fallen from 11.1% to 4.6% and promised it would fall to 2% by 2025.

Beer and other alcohol taxes

Mr Hunt told the Commons: "As well as confirming our Brexit Pubs Guarantee, which means duty on a pint is always lower than in the shops, I have decided to freeze all alcohol duty until August 1 next year.

"That means no increase in duty on beer, cider, wine or spirits."

National living wage

Millions of workers across the UK will see their wages rise next year - adding an extra £1,000 to their pay. It was confirmed at the Tory Party Conference last month that the National Living Wage is set to rise again in April and this was confirmed in the Autumn Statement.

The National Living Wage is the legal minimum wage businesses pay workers aged 23 and over for each hour they work. Currently, the rate of pay stands at £10.42 an hour - but from April 2024 this will rise to £11.44.

The Living Wage Foundation believes that today's move does not go far enough and is calling for a £12 UK living wage and £13.15 for those living in London.

Harsher benefit sanctions including free NHS prescriptions being pulled

Welfare recipients who do not find a job within 18 months will be forced to undertake work experience under plans to get more people into employment. Those who do not comply with the rules will have their benefits, including access to free prescriptions and legal aid, cut off.

National insurance cut

Chancellor Jeremy Hunt today confirmed a cut in National Insurance for millions of workers in today's Autumn Statement.

Mr Hunt was under pressure from his backbench MPs to include tax cuts in today's major economic announcement, and he did just that with news of the National Insurance cut.

He announced that National Insurance, paid by employees, will be cut by two percentage points, from 12% to 10%. The Chancellor said this cut will be introduced from January 6 and will help 27 million workers.

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