Autumn Statement as it happened: Chancellor unveils national insurance cut, pension boost and business investment

That marks the end of our live blog coverage of the Autumn Statement for today. Thanks for reading, and listen to Global Player for more analysis and reaction.

You can also read our round-up below and on the LBC website.

Despite the National Insurance cut, the overall tax burden is actually going to increase, according to the Office for Budget Responsibility (OBR).

The OBR said that most of that would come from "fiscal drag", which is when tax brackets are frozen, meaning more people fall under them.

This fiscal drag means that on current trends, taxes will reach their highest level since the Second World War by the 2028/29 financial year.

Hunt announced today that alcohol duty would be frozen for almost a year.

This will save 3p off the duty cost of the average pint, the Treasury said.

But Sarah Coles, head of personal finance at Hargreaves Lansdown, said: "Inflation figures out earlier this month showed that the price of fortified wines is up 15.3% and beer is up 12%, thanks in part to higher alcohol duty.

"It means raising a glass this Christmas will still be an expensive business."

Pensions industry members have offered a mixed reaction to Hunt's plans to consult on consolidate pension pots.

Mike Smedley of pension advisory firm Isio said: "The pot for life is going to revolutionise pensions in ways we haven’t yet imagined. 

"It will change the dynamic between employers and employees and the consequences are uncertain."

He added: "The pensions industry and employers aren’t ready for this yet."

Tom McPhail of consultancy the lang cat said: "It is great news the government is looking at the problem head-on. Member choice and pot for life could be a brilliant evolution of auto-enrolment, harnessing the best of both worlds; defaults where they are needed and individual agency where it is wanted.

"Whilst there are enthusiastic advocates for pot for life, many have misgivings about its implementation and in particular whether it will cause administration problems for employers. A consultation from the Treasury to explore industry views makes a lot of sense."

The Shadow Chancellor says the Tories have "held back growth, they have crashed our economy, increased debt, trashed our public services, left businesses out in the cold, and made life harder for working people".

She asks: "Does anything in Britain work better today than when the Conservatives came into office 13 years ago?

"It is time for change" .

Reeves points out a series of major economies that have grown faster than the UK over the 13 years since the Conservatives have been in government.

The Shadow Chancellor says the UK has become "world-following, not world-beating" under the Tories.

The Shadow Chancellor points out the fact that Hunt didn't make any announcements on inheritance tax in his wide-ranging Autumn Statement.

There had been speculation that Mr Hunt would reduce inheritance tax by 20% on estates above £325,000.

Reeves says that people in work are "worse off" despite Hunt's announcements. 

She says adds that the British public "will not be taken for fools".

The Shadow Chancellor is on her feet to respond.

Ms Reeves says Mr Hunt's Autumn Statement has "laid bare" the "full scale of the damage" the Conservatives have done to the economy.

"After 13 years of the Conservatives the economy is simply not working, despite all the promises today, working people are still worse off," she says.