Watch as Sunak discusses Autumn Statement during London school visit

Watch as Rishi Sunak gives a speech in London on Monday 20 November.

The prime minister painted a more positive picture of the economy ahead of the autumn statement on Wednesday, which Jeremy Hunt has signalled could be used to cut taxes for businesses.

Mr Sunak hailed having last week hit his pledge of halving inflation as he gave an update on the state of the nation’s finances.

Mr Hunt, the chancellor, heightened expectations that businesses could find some relief in his financial statement as he said now is the time to boost growth.

But he persistently warned against changes that could fuel inflation, dampening speculation that the pressure of income tax could be eased.

Mr Hunt suggested during a round of interviews on Sunday that the personal tax burden will not come down “overnight” as he seeks to avoid prices spiralling again.

The chancellor made clear to Times Radio that his “priority is backing British business” and changes that “unlock growth”.