Leadership Tip

How to navigate the autumn statement

Chancellor Jeremy Hunt delivered his autumn statement today, outlining around £55bn worth of tax hikes and spending cuts. Here are some of the key announcements: 

  1. The income at which the highest earners start paying the 45% top tax rate is being lowered from £150,000 to £125,140.
  2. Windfall taxes paid by energy firms have been increased to 35% starting January 2023, up from the 25% already imposed.
  3. Energy support given by the government will remain in place but will go down starting in April. There will be extra support for the poorest. Government departments, barring the NHS, will see spending cuts in the next two years. The annual healthcare budget will increase by £3.3bn in the next two years.
  4. The government will also invest an additional £2.3bn per year in schools.
  5. As recommended by the Low Pay Commission, the government is increasing the national living wage to £10.42 in April next year.
  6. The state pensions will rise by 10.1% from April, in line with September's inflation rate.

The above leadership tip...
was sent in response to a question from a participant on our acclaimed 10/10 leadership development and mentoring programme. Whether you're a first time manager or an experienced leader, straightforward, practical advice on best practice is hard to find. Until now. To find out how you, your team or your organisation can benefit, please join us on our next complimentary webinar or contact us.


For more tips...
on leadership and management good practice, subscribe to a Minute with Montgomery on 10TV.

Subscribe

Free weekly email on things you didn't know last week with links to articles on leadership excellence. To view previous editions click here.


Learn how to lead effectively

Gleaned from wisdom acquired by working with hundreds of highly successful leaders from the world of business, media and sport, our workshops are fortified with practical tips to help you better lead yourself, your team and your business.

Read More

Leadership Articles

10 characteristics of effective leaders

Great leaders come in all shapes and sizes, and they are not limited to a particular industry or to listed companies. An effective leader can be anyone from a politician to a small business owner. However, despite the vast differences in professions and... read more

10 reasons why avid readers become effective leaders

We are taught from a very young age that reading as much as possible is the pathway to success and fulfillment. Picture the smartest, hardest-working person you know, and chances are you picture them in a library poring over a variety of texts for hours... read more

10 ways to boost your resilience

Resilience is about being able to cope with tough situations and bounce back from difficult experiences. It can help us better deal with traumatic events or times of considerable stress. It doesn’t mean we’ll never face problems again or that we’ll be... read more

Leadership Tips

How to build trust within your team

Trust is the foundation of effective leadership. Without trust between you and your employees it’s difficult to establish a positive working relationship. Levels of employee trust influence your company culture. If there is a lack of trust... read more

How to change your thinking

Groundbreaking ideas are no longer a luxury when success is contingent upon an organisation’s ability to adapt, innovate, and improve. To surface groundbreaking ideas, you need to challenge the long-held beliefs the people in your organisation ... read more

How to show your strength as a leader

Competence can be established by virtue of the position you hold, your reputation, and your actual performance. But your presence matters too. Fortunately, you don’t need to be the master of self-esteem to to appear confident. If you want people to see... read more