Summary

  • UK growth forecast raised for this year to 3.0%

  • Stamp duty cut for most home buyers

  • New tax to stop big companies shifting profits offshore

  • Borrowing forecast for this year raised to £91.3bn

  1. Get involvedpublished at 12:55 Greenwich Mean Time 3 December 2014

    Jamie Foxx emails: As much as I want to dislike George Osborne the Autumn statement has been actually quite impressive so far. I know politicians have to be good at persuading people into their points of view but it genuinely seems like our country isn't quite as hopeless as everyone quite seems. People seem to forget the global financial crisis as we are deemed to be 'out of the woods'.

  2. Via Twitterpublished at 12:52 Greenwich Mean Time 3 December 2014

    Norman Smith, BBC assistant political editor

    "Deficit worse over next two, external years but then falls faster #as2014"

  3. Back in surplus?published at 12:50 Greenwich Mean Time 3 December 2014

    Apparently the government's annual spending and taxation plans will move out of the red and into surplus of £4 billion by 2018-19.

  4. Via Twitterpublished at 12:50 Greenwich Mean Time 3 December 2014

    Robert Peston
    Economics editor

    "As share of GDP or national, external income, deficit 5% - higher than France and Italy #AutumnStatement"

  5. Government borrowingpublished at 12:49 Greenwich Mean Time 3 December 2014

    Government borrowing is forecast is £91.3bn this year, then £75.9 billion next year. In March the forecast for this year was for borrowing of almost £87bn.

  6. Via Twitterpublished at 12:46 Greenwich Mean Time 3 December 2014

    Robert Peston
    Economics editor

    "OBR expects above-inflation, external rises in wages for next five years #AutumnStatement"

  7. UK growthpublished at 12:44 Greenwich Mean Time 3 December 2014

    Mr Osborne says growth forecast for this year revised up to 3%. Growth in the UK next year is forecast higher - at 2.4%. Then 2.2% in 2016, 2.4% the year after, then 2.3% in 2018 and 2019. Those figures from the Office for Budget Responsibility (OBR).

  8. Tightening financespublished at 12:38 Greenwich Mean Time 3 December 2014

    Chancellor says he will tighten the public finances with this Autumn Statement.

  9. Postpublished at 12:38 Greenwich Mean Time 3 December 2014

    Chancellor George Osborne

    George Osborne kicks off by talking about the government's achievements including "a deficit half what we inherited".

  10. PMQspublished at 12:35 Greenwich Mean Time 3 December 2014

    Why are they dragging on? Don't they know there is an important speech coming?

  11. Via Twitterpublished at 12:32 Greenwich Mean Time 3 December 2014

    Douglas Fraser
    Business and economy editor, Scotland

    tweets, external: "Oil + gas sector expects big change on tax, with smaller, costly fields, costs up, price down. Blog: http://bbc.in/1CEI4Rl #autumnstatement"

  12. Via Twitterpublished at 12:30 Greenwich Mean Time 3 December 2014

    Norman Smith, BBC assistant political editor

    tweets, external: "George Osborne reading and re-hearsing lines from his #autumnstatement speech during #pmqs"

  13. Debt questionpublished at 12:26 Greenwich Mean Time 3 December 2014

    Labour's Dennis Skinner asks if Mr Cameron is proud of what he's added to the national debt, adding he "can't blame Labour for that".

    The prime minister replies: "Oh yes I can."

  14. Via Twitterpublished at 12:25 Greenwich Mean Time 3 December 2014

    Norman Smith, BBC assistant political editor

    tweets, external: "PM accuses Ed Balls of "maso - sadism" ???? Er.....verbal mangler moment. #pmqs"

  15. Autumn Statement countdownpublished at 12:23 Greenwich Mean Time 3 December 2014

    House of Commons

    The Autumn Statement kicks off in around 5 minutes. Watch out for, among other things, an upward revision for government borrowing, possible changes to stamp duty and more about reforms for pensions. We'll bring you all the highlights here on the Autumn Statement live page.

  16. Northern-led recovery?published at 12:22 Greenwich Mean Time 3 December 2014

    The Autumn Statement is dominating prime minister's questions. There could be a new catchphrase in the making as Conservative MP for York Outer, Julian Sturdy, refers to "the northern-led recovery", before Salisbury Conservative John Glen calls for speed in proceeding with the tunnel under Stonehenge.

    However, Mr Cameron faces criticism from the SNP's Angus Robertson on devolution of corporation tax and Labour's Rushanara Ali on wages.

  17. Via Twitterpublished at 12:16 Greenwich Mean Time 3 December 2014

    Robert Peston
    Economics editor

    tweets, external: "Big hint by @David_Cameron that deficit forecast miss this year could be balanced by improved forecasts for coming years. #AutumnStatement"

  18. Via Twitterpublished at 12:11 Greenwich Mean Time 3 December 2014

    Nick Robinson
    Political editor

    tweets, external: "Could soon be cheaper to buy a cheaper house & more expensive to buy a pricier one as @George_Osborne looks set to reform stamp duty ... You pay £2500 stamp duty if you buy a £250k home BUT £7500 if buy one worth £1 more. @George_Osborne to follow Scotland in reforming the tax"

  19. 'Everything is on the table'published at 11:59 Greenwich Mean Time 3 December 2014

    Kwasi Kwarteng and Stella Creasy

    Speaking to Assistant Political Editor Norman Smith, Conservative MP Kwasi Kwarteng stresses "everything is on the table" when it comes to cutting government spending. He suggests Ed Miliband's acknowledgement that he forgot to mention the deficit in his conference speech indicates Labour isn't serious about balancing the books.

    Labour's Stella Creasy argues her party will be a better guardian of the NHS' finances - she claims that Conservatives need to be "honest" that they won't protect the National Health Service or overseas aid.

  20. Rail investmentpublished at 11:56 Greenwich Mean Time 3 December 2014

    BBC News Channel

    Bombardier, Derby

    From Derby. Noel Travers, the managing director of the train making company Bombardier says: "We want the government to confirm investment in rail infrastructure." By the way, did you know that average (median) wages and salaries in Derby are some of the highest in the UK?