Autumn Statement 2013 highlights

Chancellor George Osborne presented his Autumn Statement 2013 to the Commons this morning. As well as the rise in state pension entitlement age reported earlier by Bdaily, some highlights include:

• Total number of jobs to rise by 400,000 this year and 3.1 million jobs predicted to be created by 2019.
• Unemployment expected to fall by a further 5.6% by 2018.
• A boost in the government’s start-up loans scheme will aim to help 50,000 more people start their own businesses.
• Car tax discs to be scrapped and replaced by electronic vehicle excise duty system.
• Growth for this year is now estimated at 1.4%, and next year, instead of growth of 1.8%, now forecasting 2.4%.
• Anyone aged 18-21 claiming benefits without basic English or Maths will be required to undertake training or lose their entitlement.
• Government departments, bar schools and health, face cuts of £1 billion next year and the year after.
• By March 2017-18 borrowing is expected to be more than £80 billion lower than forecast in March this year.
• Next year’s planned 2p a litre fuel tax rise will definitely be scrapped.
• The government will sell their 40% stake in the Eurostar rail service.
• Tax breaks will be introduced to encourage “fracking” for gas.
• Plans for £375bn of investment in energy, transport, communications, and water projects.
• An extra £150m to update and build kitchens and dining rooms in English primary schools.
• A move towards subsidising offshore wind farms instead of onshore wind farms.

The Autumn Statement can be seen in its entirety here.

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