All my critics were wrong, EU economy is shrinking, Britain's isn't - Jeremy Hunt

Inflation works like a tax – eroding the power of the pound in your pocket, reducing the value of your savings and pushing up mortgage costs through the rise in interest rates that follow.

Now we need to turn to growth, which is exactly what my Autumn Statement this week is all about. Not long ago everyone thought Britain would be in recession. Not only are they wrong, the EU’s economy is shrinking while Britain is not.
This week, we go further to boost Britain.

First, we need to make sure those who can work do work. I’ve already announced a new Back to Work Plan to get over a million people into work, with tough new sanctions for those who refuse a job.

As well as £4.5 billion for British manufacturing so the UK can lead the world with skilled, higher-paid jobs in new industries built to last.

Secondly, our public services also need to be able to deliver more with what they have so we can keep taxes down. That’s why we will cut the time public servants spend on admin and use AI to boost delivery – making more time for teachers to teach our kids, for nurses to treat us when we’re sick and for police to keep us safe.

And I also have ambitious plans to change the planning system – ending delays for business who want to grow – alongside important reform to make sure our electric grid can expand to help secure our energy supply and keep down people’s bills.

This week you will hear more from me on how we will unlock business investment to generate the wealth our country needs.
And a boost for business means more jobs for people across the country, with better opportunity.

I will commit again to making sure it’s not just southern-centric but that we spread this prosperity across the UK.But I will also be responsible with the nation's cheque book – sticking to the Prime Ministers pledge to reduce debt so we can cut our interest payments and spend more of that money on public services.

We’ve been sticking to our careful plan to bring down inflation. All the while, we’ve been plotting how we get the UK growing.

Now, I’m betting on Britain to be a country that builds on what it does well and becomes the best at it – from our renowned creative industries to becoming a science superpower.