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The Chancellor read out his Autumn Statement in the House of Commons on Thursday, November 17.

At the start of his speech he announced “as Conservatives we do not leave our debts to the next generation,” and went on to describe the ways in which he planned to fix the UK’s economy.

Jeremy Hunt outlined a plan in which millions of people will pay more taxes as the income tax threshold has been frozen until 2028.

Britain's Chancellor of the Exchequer Jeremy Hunt leaves Downing Street in central London on his way to make a full budget statement in the House of Commons on November 17, 2022.

He also lowered the amount of money a person has to earn to pay the highest rate of tax from £150,000 to £125,140.

In his speech the Chancellor said: “In the face of unprecedented global headwinds, families, pensioners, businesses, teachers, nurses and many others are worried about the future.

“So today we deliver a plan to tackle the cost of living crisis and rebuild our economy.

“Our priorities are stability, growth and public services.

Chancellor of the Exchequer Jeremy Hunt departs Downing Street to present the Autumn Statement to the House of Commons on November 17, 2022 in London, England.

“We also protect the vulnerable because to be British is to be compassionate and this is a compassionate government.”

But the statement was not all about tax; he also pledged £3.3 billion to the NHS over the next two years and £2.3 billion to schools across the UK in 2023 and 2024.

The Chancellor also re-committed to reducing the UK’s carbon emissions by 68 per cent despite the economic challenges that the nation is facing.

The Yorkshire Evening Post asked its readers what they think about the new budget.

Readers such as Steven Stanworth were not impressed with the Autumn Statement.

He said: “Kicked the can two years down the road to disguise how bad they really are.”

Kevin Lawson commented: “About as much use as a roof rack on a helicopter.”

David Marsh wrote: “They have had over 12 years in power and totally messed up the economy.

“We are paying for their mistakes.”

Tax was a hot topic at the reading of the statement especially as the country is in a cost of living crisis.

Paul Nutter wrote: “I’d love to be able to pay £1200 a year more tax.”

Margaret Fawcett New said: “How much more can pensioners pay?”

Even though the budget outlined a lot of new spending in areas such as the NHS and in education not everyone believes the government was sharing good news.

Steven Stanworth said: “There was a lot of bad news hidden, the statement appeared to be full of good news but the bad news never made it to air.

“Put the country first and call a general election.”

Angela Field wrote: “More people will be in debt and might be left on the streets.

“They should have put more money in the NHS.”

But some readers were in favour of the Chancellor’s announcement.

John Wingrove said: “Like everything in lids, you do not get something for nothing.

“Somewhere along the line we have to pay back what we borrowed.

“We live beyond our means sometimes.”

Bipin Parmar wrote: “Give them a chance, please.”

Autumn Statement 2022: Leeds residents react to Jeremy Hunt's Budget