The government has confirmed this year’s (2023) Autumn Statement will take place on 22 November, with the pledge to half inflation being the main focus.

Halving inflation this year is one of prime ministers Rishi Sunak’s five promises which he and his government has committed to.

Commentators have assessed the main objectives of the government.

AJ Bell head of retirement policy Tom Selby said: “Rishi Sunak has placed tackling the cost-of-living crisis front-and-centre of his premiership after pledging to halve inflation by the end of 2023.

“By the time the Autumn Statement arrives in late November, we should have a pretty clear idea of whether that target – a target the government has very limited control over – will be hit.

“It would clearly be a huge blow to the prime minister and former chancellor, not to mention the Conservative Party at the next election, if he fails to deliver on one of his key economic pledges.”

In August, it was reported that inflation dropped to 6.8% in July, down from a peak of 11.1% in October 2022.

Selby stated: “That ever-nearing election (January 2025) will inevitably colour the chancellor’s Autumn Statement announcements as the government attempts to turn the tide on Sir Keir Starmer’s Labour Party, who remain well ahead in the polls.

“It would be no surprise to see the government use this opportunity to re-commit to the state pension triple-lock, a costly and controversial policy that is unsurprisingly particularly popular with older voters.”

Recently, Sunak confirmed that the government will keep the pension triple lock in place, he said: “Of course the government is committed to its policy on the triple lock.”

Selby predicts that as housing remains a big issue for millions of younger people further help to those struggling to afford to buy their own home will likely also be a priority.

He added the Autumn Statement also provides an opportunity for the Conservatives to re-establish their credentials as a low tax political party.

Either by setting out to reduce tax rates or ending the deep-freeze on various tax thresholds, including income tax.

The freeze on income tax has dragged millions of people into higher tax brackets.

AJ Bell is also hoping ISA simplification will play a part in the Autumn Statement as research it conducted showed potentially damaging confusion over how different ISAs work.

It thinks the advice guidance boundary review could play a part in the statement.

The Financial Conduct Authority and Treasury are working on addressing the confusion around the boundary between regulated advice and guidance.

A consultation on reforms to address this is expected in the autumn – potentially as part of the Autumn Statement.