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. Uber in Vietnampublished at 08:28 Greenwich Mean Time 3 December 2014

    A smartphone displaying the Uber app of the timing and availability of taxis within the area at Raffles place financial district in SingaporeImage source, AFP

    Vietnam's transport ministry says it will consider legalising Uber, the online car-booking company that competes with traditional cab services, after an earlier ruling deemed the taxi service illegal.

  2. Medicinal marijuanapublished at 08:16 Greenwich Mean Time 3 December 2014

    A joint.Image source, Pioneer

    Want to invest in medical cannabis? Australia is the place to go. A firm called Phytotech is floating on the Australian stockmarket on 22 December. Investors have already asked for AUS$15m worth of shares, though only $5m worth are being sold. The company plans to sell medicinal marijuana and make a disposable inhaling device. Weren't they called "joints" or "reefers" once upon a time?

  3. Via Twitterpublished at 08:11 Greenwich Mean Time 3 December 2014

    George Eaton
    Political Editor, New Statesman

    tweets:, external "Autumn Statement was meant to just be a modest update on the state of the economy. Now a second Budget in all but name."

  4. Via Twitterpublished at 07:59 Greenwich Mean Time 3 December 2014

    Adam Parsons
    Business Correspondent

    tweets:, external "Legal and General boss Nigel Wilson tells me he intends to invest £15bn in UK - equivalent to 1% of GDP"

  5. Via Twitterpublished at 07:58 Greenwich Mean Time 3 December 2014

    Graham Beale
    Chief executive, Nationwide

    tweets:, external "I see @FT thinks @George_Osborne may announce Stamp Duty reforms in the Autumn Statement. Let's hope so. Long overdue"

    Mr BealeImage source, NAtionwide
  6. Via Twitterpublished at 07:50 Greenwich Mean Time 3 December 2014

    Simon Gompertz
    Personal finance correspondent, BBC News

    tweets:, external "Chancellor to do more re-mortgaging: replacing old war debt with new borrowing at current ultra-low interest rates"

  7. France's triumph - part deuxpublished at 07:44 Greenwich Mean Time 3 December 2014

    Let's remind ourselves of how some people regard the state of the French economy. "Sclerotic, hopeless and downbeat", external, said Andy Street, the boss of John Lewis, back in October. He subsequently apologised, a bit.

  8. France's triumph?published at 07:38 Greenwich Mean Time 3 December 2014

    FranceImage source, AFP

    France, whose economy is much maligned in some sectors, has confirmed it will cut its deficit (the difference between government income and spending) to 4.1% of overall GDP in 2015. Compare and contrast with the UK, where the deficit is at 5.9% of GDP, according to the latest official figures, external.

  9. Mirror reflects Sunpublished at 07:28 Greenwich Mean Time 3 December 2014

    The Mirror is no fan of Mr Osborne either. It says today's Autumn Statement will represent the "final nail in the chancellor's credibility coffin".

  10. Sun predicts gloompublished at 07:18 Greenwich Mean Time 3 December 2014

    "Britain's getting gloomier", says The Sun newspaper, which warns that the Tories can no longer count on voters to thank them next May for - in its words - fixing the economy "Labour wrecked". A YouGov poll for the paper suggests public confidence in the chancellor is slipping, with his personal rating dropping by five points since March to -8. The proportion of people who believe the economy will improve fell from 39% to 25% in the same period.

  11. Ladbrokespublished at 07:12 Greenwich Mean Time 3 December 2014

    LadbrokesImage source, PA

    In an unusual move, the betting company Ladbrokes has started looking for a new chief executive, before the current one - Richard Glynn - steps down. In a stock exchange announcement to shareholders, Ladbrokes says Mr Glynn will stay in his job "into 2015", but will then hand over to whoever is appointed as his successor.

  12. Via Twitterpublished at 07:06 Greenwich Mean Time 3 December 2014

    Adam Parsons
    Business Correspondent

    tweets:, external "Richard Glynn to continue as Ladbrokes CEO 'into 2015', while board decide on successor"

  13. Stamp dutypublished at 07:01 Greenwich Mean Time 3 December 2014

    Here is another thing that some people think (or have been told on the quiet) may be in the Autumn Statement. The Financial Times says the system of stamp duty,, external which is levied on house sales, may be changed. It seems the tax may be made a bit more progressive.

  14. Business ratespublished at 06:51 Greenwich Mean Time 3 December 2014

    George Osborne is expected to unveil plans to spend nearly £1bn to support small businesses, along with a review of business rates. That is what the Telegraph, external is claiming this morning. Some business groups say the current structure penalises small High Street firms with large premises, but unfairly benefits online retailers.

  15. Honestypublished at 06:39 Greenwich Mean Time 3 December 2014

    BBC Radio 4

    It's not often that the word "honesty" is deemed to be the prime quality in economic decision making. But Mike Amey, of the huge bond investment company Pimco, tells listeners to Today that this is what he wants from the Chancellor today: "The main thing the markets are looking for is honesty, that we will miss this year's forecast deficit, and a recognition that that's largely for reasons outside their control, and that it will take longer for the deficit to come down," he says.

  16. The debtpublished at 06:36 Greenwich Mean Time 3 December 2014

    Radio 5 live

    Co-presenter Adam Parsons has a further reminder, this time on debt. "We're borrowing that much - it works out at almost £3000 per second - that our overall debt pile is getting bigger every year - heading towards £1.5tn overall".

  17. The deficitpublished at 06:35 Greenwich Mean Time 3 December 2014

    Radio 5 live

    On Wake Up to Money, Mickey Clarke reminds us of some crucial figures on the deficit. "In 2013-14, after strenuous efforts by the chancellor, we borrowed £97.5bn," he says. "In March this year, the Office for Budget Responsibility forecast that the figure would drop to £86.6bn for the current financial year. But it looks like that isn't going to be met".

  18. What is the Autumn Statement?published at 06:26 Greenwich Mean Time 3 December 2014

    A little on what the Autumn Statement actually is. The government has to officially publish how the country is getting on twice a year. Today is one of the two opportunities for that. The Autumn Statement has been a regular feature since 1976, but was called the Pre-Budget Report for a while. For more information, head to the Parliament website, external.

  19. Singaporepublished at 06:17 Greenwich Mean Time 3 December 2014

    SingaporeImage source, Reuters

    Singapore's stock exchange started trading three hours late on Wednesday. The authorities said they needed the downtime to correct the after-effects of a software glitch from two days ago.