Autumn Statement 2012: As it happened

Key Points

• George Osborne said austerity measures would continue a year longer to 2018, but Britain was "heading in the right direction"
• Shadow chancellor Ed Balls said the government had failed and the average family was £20,000 worse off since it came to power in 2010
• Some benefits will rise less than the rate of inflation and higher earners will have to pay more tax on pension savings
• The 3p rise in fuel duty planned for January has been cancelled
• The main rate of corporation tax will fall from 22% to 21% from April 2014
• An extra £1bn will be spent on road improvement schemes and the Business Bank will get £1bn to try to boost growth