The British government is today expected to announce long-awaited tax cuts to encourage growth.
The Chancellor of the Exchequer, Jeremy Hunt, is also due to make announcements on pensions and benefits as part of the UK's Autumn Statement.
British Prime Minister Rishi Sunak has already said that the tax cutting phase has begun after the news that inflation in Britain has more than halved to 4.6%.
Better than expected tax receipts has also left the UK government with an extra £20 billion.
Chancellor of the Exchequer Jeremy Hunt is expected to cut some form of personal tax, possibly in national insurance contributions.
Reports had suggested that he had intended to halve inheritance tax, but there were complaints that this would benefit the wealthiest during an ongoing cost of living crisis.
There is also suggestions that pensions and benefit increases may be cut back to reflect the latest inflation rate.
Mr Hunt will want to save some money as government borrowing remains high and the Bank of England is predicting little or no economic growth next year.
