Chancellor Jeremy Hunt is expected to confirm widespread spending cuts and tax rises.
Difficult decisions are needed to tackle soaring prices.
Some Conservatives oppose big tax hikes.
With prices, the state pension and benefits will increase. It is likely that energy support will continue past April.
The country is being held back by 12 years of economic failure and wasted opportunities, according to the Labour Party.
The Autumn Statement could change at the last minute, but the people in parliament have been told what is likely to be in the statement.
As the statement is delivered, the final figures will be published but it is expected that around 45% of the measures will be tax rises. Spending cuts and tax increases are likely to be around $30 billion.
The chancellor is expected to argue that this is not a return to the 2010 Conservative-Liberal Democrat coalition government's policy of austerity, with the balance of spending cuts to tax rising 80% to 20%.
The government believes the measures are necessary to fill a fiscal black hole.
Some are questioning how reliable the forecasts are.
A big theme of the statement will be the freezing of tax levels. People will pay more tax due to inflation and pay increases.
When the top rate of tax is paid, the threshold will be lowered to $125,000.
Many departments will see their budgets squeezed with below-inflation increases due to the high rate of inflation.
The health budget is expected to be protected and increased in real terms.
Energy bill support will be less generous from April.
The Treasury is likely to say that the Energy Price Guarantee will stay in place. Millions of households will see their bills increase from April.
A household using a typical amount of gas and electricity is expected to pay £2,500 a year. Without the intervention, the average household bill would have been over $6,000.
There will be targeted support for those on low incomes after universal support payments end.
The energy industry will be hit with a windfall tax in order to pay for the support.
The state pension and benefits will increase with inflation, but this has not been confirmed by the government.
An increase in the National Living Wage will be confirmed.
The chancellor is not expected to make any big announcements after the mini-budget debacle.
Most of the tax rises announced in the mini-budget have been reversed.
The Office for Budget Responsibility will accompany Mr Hunt's statement.
The UK's reputation took a bit of a hit.
"We are taking difficult decisions to deliver strong public finances and help keep mortgage rates low, but our plan protects our long-term economic growth," Mr Hunt is expected to say in his Autumn Statement.
Being British is to be compassionate.
With this plan for stability, growth and public services, we will face into the storm, but we are not immune to the global economic crisis.
Some Conservatives on the right of the party are concerned about the possibility of tax rises.
Esther McVey is a former cabinet minister.
She warned on Wednesday that she wouldn't support tax rises unless the unneeded HS2 project was stopped.
Mr Hunt was warned not to impose too many tax hikes by a former cabinet member.
He said he hoped they would strike a balance between spending reductions and tax rises to balance the books.
Stephen Crabb was a former work and pensions secretary.
The state pension needs to rise with inflation and the Energy Price Guarantee needs to be more than just helping people on benefits, he said.
He thought Mr Hunt would make the right decisions.
The UK needs better choices for working people and a proper plan for growth, according to the Shadow Chancellor.
She said that Britain has a lot of potential but is falling behind on the global stage.
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