Wednesday, 05 December 2012 12:35
George Osborne begins Autumn Statement in the Commons
Chancellor George Osborne has begun give his Autumn Statement in the House of Commons, saying it will be an Annual Statement about how the British economy is healing.
This is Mr Osborne's third Autumn Statement since taking on his role as Chancellor of the Exchequer in 2010. The speech, which began at 12.35, is expected to last 30-40 minutes.
The statement will set out his views on the economy and government finance ahead of the next Budget, expected in March 2013.
It will also give details of economic data from the Office for Budget Responsibility, which indicate how much growth there has been in the UK over the past 12 months and the forecasts for economic growth and the deficit reduction programme.
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The Institute of Fiscal Studies has indicated the growth could continue to be poor which would mean Mr Osborne would fail to meet his target to have debt falling by 2015-16.
Potential topics that have been rumoured to be announced over the past few days include changes to higher rate tax relief, a cut to the maximum allowance to pension contributions and cuts to the lifetime allowance.
Prime minister David Cameron has also suggested that there may be one or two surprises in the Budget and it's widely expected there will also be an accelerated capital expenditure programme on schools and roads to help spur growth.
• Financial Planner Online will be extensively covering the Autumn Statement with live coverage of the announcements on the day and comments from leading experts afterwards. We will also be tweeting live via our feed @FPM_Online.
• A special section to cover the Autumn Statement has been set up on our home page – click on Autumn Statement to get all the news.
• Don't forget to tell us what you think, either Tweet your comments, direct message us or email your views to This email address is being protected from spambots. You need JavaScript enabled to view it.
• You can also email your comments to: This email address is being protected from spambots. You need JavaScript enabled to view it.
Check back here and at the website throughout the day for more updates on what the Autumn Statement will mean for Financial Planners and wealth managers and their clients.
This is Mr Osborne's third Autumn Statement since taking on his role as Chancellor of the Exchequer in 2010. The speech, which began at 12.35, is expected to last 30-40 minutes.
The statement will set out his views on the economy and government finance ahead of the next Budget, expected in March 2013.
It will also give details of economic data from the Office for Budget Responsibility, which indicate how much growth there has been in the UK over the past 12 months and the forecasts for economic growth and the deficit reduction programme.
{desktop}{/desktop}{mobile}{/mobile}
The Institute of Fiscal Studies has indicated the growth could continue to be poor which would mean Mr Osborne would fail to meet his target to have debt falling by 2015-16.
Potential topics that have been rumoured to be announced over the past few days include changes to higher rate tax relief, a cut to the maximum allowance to pension contributions and cuts to the lifetime allowance.
Prime minister David Cameron has also suggested that there may be one or two surprises in the Budget and it's widely expected there will also be an accelerated capital expenditure programme on schools and roads to help spur growth.
• Financial Planner Online will be extensively covering the Autumn Statement with live coverage of the announcements on the day and comments from leading experts afterwards. We will also be tweeting live via our feed @FPM_Online.
• A special section to cover the Autumn Statement has been set up on our home page – click on Autumn Statement to get all the news.
• Don't forget to tell us what you think, either Tweet your comments, direct message us or email your views to This email address is being protected from spambots. You need JavaScript enabled to view it.
• You can also email your comments to: This email address is being protected from spambots. You need JavaScript enabled to view it.
Check back here and at the website throughout the day for more updates on what the Autumn Statement will mean for Financial Planners and wealth managers and their clients.
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