Jeremy Hunt said the country is officially in recession, as he set out his plans to hike taxes and slash spending.
But how will this impact Scotland?
– The Chancellor has promised an extra 1 point 5 billion pounds for the Scottish Government over the next two years.
– Oil and gas companies will see an increase in the windfall tax on their profits, from 25% to 35% until 2028.
– Household bills are set to go up, the energy price cap will increase from £2,500 to 3 thousand pounds for the average household.
– Pensions and benefits will rise in line with inflation – a 10.1% uplift.
The Scottish Government has accused the UK Government of “repeating the mistakes of the past”, and warned there could be significant consequences as a result of the autumn statement.