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| Version 0 | Version 1 |
|---|---|
| Key points: Spending Review and Autumn Statement at-a-glance | Key points: Spending Review and Autumn Statement at-a-glance |
| (35 minutes later) | |
| Chancellor George Osborne is setting out the state of the economy in the Autumn Statement and spending plans for the next four years in the Spending Review. The main points will be added here as he speaks. | Chancellor George Osborne is setting out the state of the economy in the Autumn Statement and spending plans for the next four years in the Spending Review. The main points will be added here as he speaks. |
| State of the economy | State of the economy |
| Growth of 2.4% forecast for 2015, unchanged from June | |
| Growth in subsequent years forecast to be 2.4%, 2.5%, 2.4% and 2.3% | |
| UK is fastest-growing economy, alongside US, since 2010 | |
| Public borrowing/deficit | Public borrowing/deficit |
| Budget surplus of £10.1bn to be delivered on schedule by 2019-20 | |
| Borrowing to total £73.5bn this year, falling to £49.9bn, £24.8bn and £4.6bn in subsequent years | |
| Debt to be lower in 2015-16 than 2014-15 and to fall every year after that | Debt to be lower in 2015-16 than 2014-15 and to fall every year after that |
| Spending Review headlines | Spending Review headlines |
| Planned £4.4bn in tax credit cuts to be abandoned, with taper and threshold rates for working tax credits and child tax credits remaining the same | |
| Government to breach overall welfare cap, as a result, in first years of Parliament | |
| Total spending to rise from £756bn this year to £821bn by 2019-20 | |
| State spending to hit 36.5% in five years - down from 45% in 2010. | |
| Day-to-day department spending to fall by 0.8% each year, lower than in the 2010-2015 Parliament | |
| Police, security and justice | Police, security and justice |
| Welfare and tax credits | Welfare and tax credits |
| £12bn in targeted welfare savings to be delivered in full | £12bn in targeted welfare savings to be delivered in full |
| Housing benefit for new social tenants to be capped at same level as private sector | |
| Housing benefit and pension credit payments to be stopped for people who leave the country for more than one month | |
| Health and education | Health and education |
| NHS budget, currently £101bn, to rise to £120bn by 2020-2021 | |
| The health service to get upfront cash injection of £6bn next year | |
| NHS in England expected to make £22bn in efficiency savings | |
| An extra £600m earmarked for mental health services | |
| Grants for student nurses to be scrapped and replaced by loans | |
| Cap on training places for nurses scrapped, with goal of increasing numbers by 10,000 | |
| New social care "precept" in council tax of up to 2% to allow local councils to raise £2bn for social care | |
| Better Care Social Fund to be increased by 1.9% | |
| Housing | Housing |
| Personal and business taxation | Personal and business taxation |
| Every individual and small business to have their own digital tax account by the end of the decade | |
| Business and science | Business and science |
| 26 new enterprise zones to be created | |
| Uniform business rates to be abolished, with elected mayors allowed to raise rates under certain conditions | |
| Pensions and savings | Pensions and savings |
| State pension to rise by £3.35 a week to £119.30 next year | |
| Savings credit to be frozen at current level | |
| Infrastructure, transport and culture | Infrastructure, transport and culture |
| Presented by Chancellor George Osborne, the Spending Review sets out what government spending will be over the next four years, while the Autumn Statement is an annual update of government plans for the economy. | Presented by Chancellor George Osborne, the Spending Review sets out what government spending will be over the next four years, while the Autumn Statement is an annual update of government plans for the economy. |
| Explained: Which government departments will be affected? | Explained: Which government departments will be affected? |
| Analysis: From BBC political editor Laura Kuenssberg | Analysis: From BBC political editor Laura Kuenssberg |
| Special report: Full in-depth coverage of the Spending Review and Autumn Statement | Special report: Full in-depth coverage of the Spending Review and Autumn Statement |
| Watch: The BBC's TV coverage begins on BBC Two and the BBC News Channel at 11:30 GMT, with BBC Radio 5 Live coverage from 11:55 GMT | Watch: The BBC's TV coverage begins on BBC Two and the BBC News Channel at 11:30 GMT, with BBC Radio 5 Live coverage from 11:55 GMT |