Jeremy Hunt, the Chancellor, is delivering his Autumn Statement this afternoon. We explain who can expect to gain financially from his announcements – and who is likely to lose out. Predictions will be replaced with reports of what the Chancellor says as his statement proceeds.

Winners

Investors in shares

Mr Hunt is expected to allow companies to claim more generous tax breaks when they invest in assets such as machinery. All else being equal, their lower tax bills should mean bigger profits for investors.

Russ Mould of AJ Bell, the investment company, said: “The Office for Budget Responsibility quantified the tax benefit at £9bn a year in March. Aggregating stockbrokers’ profit forecasts for individual FTSE 100 companies for 2023 gives £171bn in total and £183bn for 2024. So £9bn of that is 5pc of forecast net profits for 2024.

“The caveat is that the FTSE 100 is not all of UK plc and a big chunk of its assets, and thus investment, will be overseas, but my figures may serve as a rule of thumb.”

In addition, the Chancellor may look at further reductions to business rates, which should also ultimately benefit investors.

Pensioners

State pensions are expected to rise by 8.5pc, in line with the normal measure of earnings. Stripping out the effect of bonuses from the figures had been considered; it would have meant a lower increase of 7.8pc.

The full new state pension should therefore increase to £203.85 a week to £221.20, or £11,502 a year. The decision means that the “triple lock” will be adhered to.

Taxpayers

While income tax rates are thought likely to be left unchanged, cuts to National Insurance – income tax by another name – look much more likely.

The low paid

The National Living Wage is expected to increase by more than £1 an hour to £11.44 an hour from April.

It is currently £10.42 an hour for workers over 23. Mr Hunt is expected to announce that the rate will also apply to 21 and 22-year-olds for the first time.

It means a full-time worker aged 23 on the minimum wage would receive a rise of £1,800 a year. A 21-year-old would see an effective £2,300 annual rise.

Benefit claimants (but see also ‘losers’)

The Chancellor is widely expected to confirm that he will increase benefits in full by 6.7pc, in line with September’s inflation figures, after considering using October’s lower 4.6pc figure.

Landlords

Property investors can expect to benefit from the rise in housing benefit in line with inflation.

Losers

Higher-rate taxpayers and those close to the threshold

The freeze on income tax thresholds has combined with wage rises to drag many more workers into higher tax bands. No respite is expected from Mr Hunt today.

Bereaved families

The Chancellor is not expected to change inheritance tax allowances, which have also been frozen.

Benefit claimants

The Autumn Statement is expected to include major reforms to force more benefit claimants to look for jobs.

It will close loopholes to the work capability assessment that enable hundreds of thousands of people to evade work by claiming they have problems such as anxiety.

From 2025, people with mobility and mental health problems will be told to look for work that they can do from home – and could lose thousands a year if they refuse.

A £2.5bn Back to Work Plan will help up to 1.1m people with long-term health conditions, disabilities or long-term unemployment to look for and stay in work, with tough new benefit sanctions for those who can work but choose not to.

Drinkers

The Government is thought to be planning rises in alcohol duty in line with inflation.

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