Autumn Statement: The Key Points At A Glance
The main measures and forecasts from the Chancellor George Osborne in his Autumn Statement:
:: Most working age benefits, including Jobseeker's Allowance, will rise by 1% in each of the next three years. Changes to welfare "save £3.7bn by 2015/16". Child benefit to rise by 1% for two years from April 2014.
:: ISA limit raised to £11,520 and basic state pension to rise 2.5% from April. Public sector workers to see average 1% rise in earnings.
:: National pay arrangement in NHS and prison service to continue, and no changes to civil service arrangements, but greater freedom for schools to set pay in line with performance.
:: Will collect £7bn more in tax than the last Government to tackle "evasion" and loopholes. More resources (£77m) to ensure multinational firms "pay their fair share" and avoidance is reduced.
:: Fuel duty escalator "scrapped". Planned 3p a litre rise due in January is cancelled.
:: Income tax threshold increased by £235 in 2013. Means no tax paid on earnings under £9,440.
:: "Need to ask more of the better off": No new homes tax. From 2014/15 the pension lifetime pot relief will fall from £1.5m to £1.25m; annual allowance down from £50,000 to £40,000. This affects top 2% of pension pots.
:: Threshold for 40% rate of income tax to rise by 1% in 2014 and 2015 from £41,450 to £41,865 and then £42,285.
:: Corporation Tax rate cut by further 1% from April 2014.
:: The Bank Levy Rate will be increased to 0.130% next year.
:: Capital Gains Tax annual exempt amount to increase by 1% over the same period, reaching £11,100 and Inheritance Tax nil-band rate to rise from £325,000 now to £329,000 in 2015/16.
:: £1bn more for road improvements - upgrading A1, A30, and M25. Funding guarantee for extension to Northern Line tube.
:: £600m more on scientific research infrastructure.
:: £1bn to expand good schools and build more.
:: The deficit has fallen by a quarter in "just two years". Forecast to fall this year to 6.9% of GDP. Borrowing forecast for 2012/13 is therefore £108bn. It will take one extra year to reach his debt target.
:: Office for Budget Responsibility now forecasts GDP growth -0.1% in 2012, blaming Eurozone crisis. Sees growth of 1.2% in 2013, 2% in 2014 and 2.3% in 2015. OBR expects jobless rate to peak at 8.3% (currently 7.9%).
:: Has delivered £12bn in Whitehall spending cuts. More on the way. Government department resource budgets reduced by 1% next year with schools and hospitals protected.