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| Version 0 | Version 1 |
|---|---|
| Key points of 2014 Autumn Statement: At-a-glance | Key points of 2014 Autumn Statement: At-a-glance |
| (31 minutes later) | |
| Chancellor George Osborne is giving details to Parliament about the state of the economy in his last Autumn Statement before the general election. | Chancellor George Osborne is giving details to Parliament about the state of the economy in his last Autumn Statement before the general election. |
| Here is a list of the main points, updated as the chancellor speaks. | Here is a list of the main points, updated as the chancellor speaks. |
| State of the economy | State of the economy |
| UK fastest growing economy in the G7 | |
| 3% growth forecast in 2014, up from 2.7% predicted in March | |
| 2.4% growth forecast in 2015, followed by 2.2%, 2.4%, 2.3% and 2.3% in the following four years | |
| 500,000 new jobs created this year. 85% of new jobs full-time | |
| Unemployment set to fall to 5.4% in 2015 | |
| Inflation predicted to be 1.5% in 2014, falling to 1.2% in 2015 | |
| Public borrowing/deficit | Public borrowing/deficit |
| Deficit 'cut in half' since 2010 | |
| Borrowing set to fall from £97.5bn 2013-14 to £91.3bn in 2014-15. | |
| Deficit projected to fall to £75.9bn in 2015, £40.9bn in 2016, £14.5bn in 2017 before reaching a £4bn surplus in 2018 | |
| By 2019-20 Britain will have a surplus of £23bn | |
| Debt as a share of GDP falling in every year until forecast to be 72.8% in 2019-20 | |
| Tax receipts forecast to be £23bn lower in 2014-5 than predicted | |
| Repay outstanding national debt incurred in First World War | |
| Pensions | Pensions |
| Alcohol, tobacco and gambling | Alcohol, tobacco and gambling |
| Energy and fuel | Energy and fuel |
| Savings | Savings |
| Taxation | Taxation |
| World War One debt to be repaid | |
| Inheritance tax to be cut for families of aid workers who die in course of duty | |
| Libor fines to support Ghurkhas | |
| VAT paid by hospices and search and rescue organisations to be refunded | |
| Introduce 25% tax on profits generated by multi-nationals that are shifted out of the UK | |
| Welfare | Welfare |
| Welfare spending to be £1bn lower than forecast in March | |
| Two year freeze in working-age benefits (first announced in October) | |
| Migrants to lose in-work benefits if they have "no prospect" of work after six weeks | |
| Health and education | Health and education |
| £2bn extra every year until 2020 for the NHS | |
| GP services to get £1.2bn in extra funds from bank foreign exchange manipulation fines | |
| Employment Allowance extended to carers | |
| Business | Business |
| £45m package of support for exporters | |
| Housing/infrastructure | Housing/infrastructure |