it s going to impact immediately, you know, feeding, clothing and heating the house. me and my partner have said no presents for each other. - we ve been together a number of years. l we ve never not bought each other a christmas present. and this year we re not buying each other a christmas present - because we simply can t afford to. so what do we think the chancellor plans to do? firstly, he s expected to raise state pensions, benefits and tax credits in april, by september s inflation rate. that was 10.i%. 0n energy, there ll still be a price cap, but it will rise, so that the typical household will be paying just over £3,000 a year. currently, they re paying around £2,500. not everyone lives in a typical household, and the cap is on unit rates, not your hills, which means how much you pay will still depend on how much energy you actually use. and there will likely be tax rises. energy companies are expected to be hit by an expanded windfall tax.
we ve never not bought each other a christmas present. and this year we re not buying each other a christmas present - because we simply can t afford to. so what do we think the chancellor plans to do? firstly, he s expected to raise state pensions, benefits and tax credits in april, by september s inflation rate. that was 10.1%. on energy, there ll still be a price cap, but it will rise, so that the typical household will be paying just over £3,000 a year. currently, they re paying around £2,500. not everyone lives in a typical household, and the cap is on unit rates, not your bills, which means how much you pay will still depend on how much energy you actually use. and there will likely be tax rises. energy companies are expected to be hit by an expanded windfall tax. the treasury are expected to say there needs to be cuts to spending plans, but those will be pushed back until after the general election. after liz truss and kwasi kwarteng s mini budget, and the turmoil seen in th
his choice of home secretary and the huge challenges in grappling with the economic issues he faces. damian grammaticus, bbc news, westminster. as we ve heard, the government s economic plan, due to be announced on monday, is delayed until mid november. let s get more now with our business correspondent marc ashdown. talk us through the reaction to that announcement, marc, first of all? pretty calm so far, i think there is a feeling that prudence pays. people at home might be thinking, here we go again, more uncertainty, but i don t think there is any surprise in the markets that rishi sunak wants to kick the tires on all of this. positive that this is now being upgraded from a mini statement to a full autumn statement, so in theory we will get far more detail on what the chancellor plans to do on economic stability, how he is going to get growth moving up and debt down, and also in his words how he
been eagerly awaited on monday. iie: markets been eagerly awaited on monday. the: markets have been eagerly awaited on monday. ti9: markets have been volatile been eagerly awaited on monday. ti9 markets have been volatile over the last few months. column is good, and we got home today, everything fairly flat. column is good. everyone at home is thinking, what s going on? and other delay? but the markets were expecting this, there was no surprise at all that rishi sunak will want to kick the tires of these policies, make sure he s happy with it all. so everything is pretty quiet, the state of the pound had a search against the dollar, stayed there, and the government borrowing costis there, and the government borrowing cost is stable as well. positive reaction that this will now be a full budget it s gone from a mini economic plan to a full works release, and we ll probably get more detail on how our chancellor plans to bring back economic stability, how we get growth moving again
as they were expecting, it is quite stable positive too that this has been upgraded from a mini statement to a full autumn statement, so we will get far more detail in theory on how the chancellor plans to bring about economic stability, how he ll get growth up and debt down. also in his words, he s promising to give people security over mortgages, jobs, and the cost of living in short, promising a clear plan, in his words, that stands the test of time. and we ve seen, of course, hasty decisions have a big impact on confidence and credibility. the delay comes as the uk tries to deal with a cost of living crisis. wristy sheet rishi sunak has introduced the ban on fracking. liz truss faced a backlash over concerns of earth tremors linked to the practice. these concerns were put to the prime minister in parliament. i ve already said i stand by the manifesto on that. but what i would say is that i m proud that this government has