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| Version 1 | Version 2 |
|---|---|
| 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 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% | 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 | 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 | 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 | 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 | 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 | 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 | 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. | 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 2010-15 Parliament | |
| Spending at Department of Transport to fall by 37% | |
| Environment and Energy departments to see day-to-day spending fall by 15% and 22% respectively | |
| Police, security and justice | Police, security and justice |
| No real-terms cuts in police budgets | |
| Forces expected to make efficiency savings by sharing resources | |
| Holloway women's prison in London to close as part of modernisation of prison estate | |
| Underused courts to be sold off, raising £700m | |
| Defence budget to rise from £34bn to £40bn | |
| 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 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 | Housing benefit and pension credit payments to be stopped for people who leave the country for more than one month |
| Department of Work and Pensions budget to be cut by 14% | |
| Job centres to be co-located in council buildings | |
| Conditions for benefits to be extended to more than one million more claimants | |
| Health | |
| NHS budget, currently £101bn, to rise to £120bn by 2020-21 | |
| The health service to get upfront cash injection of £6bn next year | The health service to get upfront cash injection of £6bn next year |
| NHS in England expected to make £22bn in efficiency savings | NHS in England expected to make £22bn in efficiency savings |
| An extra £600m earmarked for mental health services | An extra £600m earmarked for mental health services |
| Grants for student nurses to be scrapped and replaced by loans | 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 | 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 | 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% | Better Care Social Fund to be increased by 1.9% |
| £15m raised from charging VAT on sanitary products to be given to women's health charities | |
| Education | |
| Schools budget in England protected in real terms | |
| School funding formula to be phased out | |
| New 30-hour free childcare subsidy for parents of three- and four-year-olds to be limited to those working more than 16 hours a week | |
| Funding for Further Education colleges to be "protected in cash terms" | |
| Housing and local government | |
| Local government to keep revenue from business rates by the end of the Parliament | |
| Councils to receive an additional £10m to help homeless people | |
| Local government spending, in cash terms, to be same in 2020 as 2015 | |
| Business, science and the environment | |
| Extra £200m funding for flood defence | |
| Business department funding to be cut by 17% | |
| 26 new enterprise zones to be created | 26 new enterprise zones to be created |
| Uniform business rates to be abolished, with elected mayors allowed to raise rates under certain conditions | Uniform business rates to be abolished, with elected mayors allowed to raise rates under certain conditions |
| Science budget to rise in real terms to £4.7bn | |
| Apprenticeship levy set at 0.5% of employer wage bill, with £15,000 allowance for all firms taking part | |
| Pensions, savings and personal taxation | |
| State pension to rise by £3.35 a week to £119.30 next year | State pension to rise by £3.35 a week to £119.30 next year |
| Savings credit to be frozen at current level | Savings credit to be frozen at current level |
| Every individual and small business to have their own digital tax account by the end of the decade | |
| Infrastructure, transport and culture | Infrastructure, transport and culture |
| Capital funding of transport projects to rise by 50% | |
| £250m support for motorways in Kent to relieve pressure caused by Operation Stack | |
| Culture department to see funding cut by 2% | |
| Extra cash for Arts Council and UK Sport | |
| Free museum entry maintained | |
| 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 coverage is on BBC Two and the BBC News Channel and also on BBC Radio 5 live |