Hunt unveils tax rises and spending cuts as OBR says eight years of growth to be wiped out

Labour describes autumn statement measures as invoice for the economic carnage' of disastrous mini-budget under Liz Truss

• Autumn statement 2022: key points at a glance
• Politics live: latest news and reaction on UK budget plans

Jeremy Hunt has sought to portray the government as a victim of global events as he unveiled a series of tax rises and spending curbs, amid new official forecasts showing that a steep recession will effectively wipe out eight years of growth for Britons.

In a lengthy and policy-packed autumn statement - a budget in all but name - the chancellor said GDP was forecast to contract by 1.4% next year, with inflation to remain above 7%.