Business owners, pensioners and families react to spring statement – and say they ‘worry for future’

Scores of cash-strapped Brits have reacted to today’s Autumn Statement as Chancellor Jeremy Hunt announced £30 billion of spending cuts and £24 billion in tax rises over the next five years.  

Business owners said they ‘fear for the future’ amid soaring meat and electricity costs, while the young are forced to cut back on their social lives and complain they are unable to afford dental care.

It comes despite plans to help the most financially vulnerable cope with inflation and soaring energy bills – those on means-tested benefits will receive an extra cost-of-living payment of £900, while pensioners will get £300 and those on disability allowances £150. 

Jools Cardozo, the owner of Farringdon and Forbes Home Interiors in Leamington Spa, Warwickshire, said she was now working seven days a week to keep her business afloat. 

‘As a single mum I worry about my future as a small business owner as I am currently working seven days a week until Christmas to keep costs down after not replacing staff, it’s a constant battle,’ she told MailOnline. 

‘I survived two lockdowns, just, but this latest budget heaps more misery for the High Street just before what is essentially our busiest time of year. 

‘The government needs to understand that it needs to help support small businesses in whatever way it can otherwise there will simply be no High Street left.’ 

Gindy Mathoon, owner of Create Finance, a mortgage broker, said: ‘Nothing spells recession more than an increase in taxes. We are facing a year like no other. Get yourself strapped in ready for a bumpy ride ahead.’ 

Jools Cardozo (pictured), the owner of Farringdon and Forbes Home Interiors in Leamington Spa, Warwickshire, said the Autumn Statement would heap further misery on High Street shops

Kye Bourne (pictured), 20, who is unemployed and has been residing in supported living for two years, said he has stopped drinking alcohol and cancelled his Netflix subscription

English literature student Blyth Lyes, 19, who works behind a supermarket pizza counter, said she is having to contribute more to her parents’ housekeeping bills.

Extending the freeze on tax thresholds to 2028 will drag all workers deeper in the system, meaning they pay more 

Inflation in the UK hit 11.1% in October – the highest level in more than 40 years

It came after Mr Hunt told the House of Commons taking ‘difficult decisions’ would mean a ‘shallower downturn’ as the OBR watchdog forecast that the economy is already in recession and will shrink by 1.4 per cent next year. 

It means all workers face paying more in tax as a freeze on the personal allowance, basic and higher income rates thresholds was extended to 2028, dragging people deeper into the system by ‘stealth’. 

The average family is likely to be more than £800 a year worse off, as the stage was also set for massive increases in council tax bills by easing the rules for local authorities to rake in cash to pay for services.

At the same time Mr Hunt confirmed that help with soaring energy bills is due to be reigned in. Ex-PM Liz Truss’s plan to underwrite all bills for two years will end after just six months and be replaced with targeted, cheaper, assistance aimed at those least able to pay.

It means families will be paying £1,000 extra by next spring. But he also unveiled moves to make the most well-off pay more tax, a move broadly supported by the public according to a poll this week. He also confirmed that pensions and benefits will rise in line with September’s inflation rate of 10.1 per cent. 

However people across the country, from the young to pensioners and business owners, say they will need to make drastic changes in a bid to cut down on their outgoings and remain fearful for the future.

Sam, who runs The Olive Works, a market stall in Bristol, revealed he had to stop selling lamb because it had become too expensive. 

‘Pretty much everything has gone up – the craziest one for us is the produce we’re buying in,’ he told Sky News. 

‘We’ve had to make changes to the menu just because of how expensive certain stuff is. 

‘We don’t sell lamb any more. It’s one of our biggest sellers but the price has almost doubled. 

‘There has also been a change in how much people spend – they’re not buying extra things like drinks.’  

Neighbouring restaurant owner Abdul said his bottom line has taken a hit in recent months. 

‘The squeeze for me has been the meat, it’s sky high… very, very expensive. And the vegetables, electric, everything went up.’ 

He added that he hoped the energy price cap would be extended in the Autumn statement, as his electricity bills are the ‘number one’ issue affecting his business. 

Neighbouring restaurant owner Abdul (pictured) said his bottom line has taken a hit in recent months, particularly due to the rising cost of electricity 

‘We used to pay £300, now we pay £600,’ he added, ‘everything went up… we are worried, winter is coming.’ 

Meanwhile Kye Bourne, 20, who is unemployed and has been residing in supported living for two years, said he has stopped drinking alcohol and cancelled his Netflix subscription. 

His rent is only £25 a month and he wants to find work, but is limited to 16 hours per week due to the housing benefits threshold. He is also concerned that he will be unable to receive dental care due to crippling waiting times on the NHS. 

He told the BBC: ‘It feels like I can only live and eat… I also answer surveys on the internet for a bit of extra cash. It helps a huge amount, an extra £40 a month.’  

He added: ‘I want to go out into the world, earn my independence and start living life, but it feels like a massive hurdle you can’t jump across.

‘My biggest concern is when I move into my own place, how am I going to pay the bills? It doesn’t seem possible.

‘My dream is to become an airline pilot. That’s why I want to work my bottom off and save to fund a licence. That’s my ticket out. It’s kind of rough but I’ve got hope.’ 

Elsewhere, English literature student Blyth Lyes, 19, who works behind a supermarket pizza counter, said she is having to contribute more to her parents’ housekeeping bills. 

She added: ‘We’ve had to start shopping at different supermarkets. We used to get treats but can’t because it’s too expensive with the cost of food going up.

‘We used to go out for meals quite frequently, but not any more.

Retired printer Colin Cummings (pictured with his wife), 70, said that he was ‘concerned’ as ‘things are difficult for people at the moment’

Robert Douglas, 50, who lives in Gateshead and works for Cancer Research UK, said there has been a noticeable rise in the cost of petrol, food and energy which is ‘impacting on the decisions we make’ 

‘I stress for my parents and whether they have enough to pay for bills. Simple things like the heating, we can’t have that on because it’s so expensive. It’s freezing in my house.’ 

Pensioners were also hoping that the triple lock was kept as they feel the brunt of soaring energy costs. 

Retired printer Colin Cummings, 70, told the Sunderland Echo that he was ‘concerned’ as ‘things are difficult for people at the moment.’ 

He added: ‘The cost of living has effected what we do. We are not putting our heating on as much and have changed our shopping habits to shop around for the best deals.

‘I’ve read that there may be an increase in council tax. Myself and my wife are pensioners and this will again mean more money going out. The price of everything is going up and so I really hope they keep to their triple lock commitment.’

Robert Douglas, 50, who lives in Gateshead and works for Cancer Research UK, said there has been a noticeable rise in the cost of petrol, food and energy which is ‘impacting on the decisions we make.’

He added: ‘We live in a council house and we were going to buy it, but the recent hike in interest rates means we can no longer afford to.

‘We can’t absorb any further tax rises, the budget should target taxing the big energy companies and the billions of profit they have made. This money can then be used to support people with their gas and electric bills.

‘I have no confidence the budget will help ordinary working people, in fact I think it’s more likely to be a hindrance.’