Auditing firm Deloitte has said the provision for local authorities to raise up to 2% on council taxes, which can be ring fenced for adult social care, is "a positive step." But Caroline Hope, the firm's lead for social care, says it "doesn’t come close to closing the funding gap between demand and current capacity."

BBC News Channel

Frances O'Grady, from the TUC, says the tax credits announcement was "a spectacular but temporary retreat" as George Osborne will be "coming for Universal Credit" when it is introduced. She says she's also worried about cuts to local government, fearing it will entrench inequality. There was not enough support for the UK steel industry either, she argues.

Image source, Getty Images

Shadow energy secretary Lisa Nandy has responded to the news that the government has axed a £1bn fund aimed at commercialising Carbon Capture & Storage (CCS) technology. She said:

The Spending Review and Autumn Statement includes plans to cut so-called Short Money allocations to opposition parties by 19% - and then freeze them in cash terms until 2020. But it's been criticised as "anti-democratic" by a Labour Party spokesperson.

Jules Pipe, Mayor of Hackney

The National Association of Local Councils says the Spending Review on the whole is "challenging" for local government but say measures which support devolution are "encouraging".

However they warn the "devil will be in the detail" adding local democracy are "vital" to deliver future services.

What does Labour MP Frank Field make of shadow chancellor John McDonnell's 'Mao moment'. He tells the BBC it's important for politicians to realise that "what might appear as a joke can be interpreted by others as being symbolic".

Welcoming the tax credits U-turn, Work and Pensions Committee chairman Frank Field says the four million "strivers" who would have been affected can go to bed tonight not worried about what's going to happen to their finances.

But the Labour MP says George Osborne also deserves a pat on the back, saying some would have refused to change their mind "and screwed up people's lives to save their own face". He reckons Mr Osborne is back in the running for the Conservative Party leadership.

Conservative MP Jacob Rees-Mogg says the public finances have improved because of the government's economic strategy in the last Parliament. He adds that Tory MPs will be pleased with the news on tax credits.

Here's how much the OBR expects the government will get from selling off various banking and financial assets:

Image source, OBR

Robert Chote is chairman of fiscal watchdog the Office for Budget Responsibility.

SNP MP Hannah Bardell says that although the tax credit cuts are no longer going ahead, there will still be £12bn in reductions to the welfare budget. The chancellor is "robbing Peter to pay Paul", she says.

She also says George Osborne should apologise to those who were going to lose out as a result of the tax credit cuts, saying people across the country were genuinely worried how they were going to get by.

The MP also tells the BBC the Autumn Statement was not good news for Scotland which, she says, is in line for a real-terms cut to its budget.

Rob Saville on Facebook:

Tax credit cuts are just going to hide in the universal credits reform.  It was just an extra saving that failed, so now George Osborne looks like the listening chancellor, clever move really. Let's wait to see how many cuts people will face come universal credits. We are going to be a country run by private companies even more come next election. This is not good for public services or the welfare state. If you've got weak government the rules will be weak too. This is bad news.  

BBC Newsnight

The Children's Society says that while the tax credit cuts reversal is welcome, low-income families will still be hit hard by other welfare cuts.

In other news, Health Secretary Jeremy Hunt has agreed to talks at Acas in the dispute with junior doctors - and is now urging the British Medical Association to call off its strikes.

Mr Hunt has now written to them confirming he is willing to go to Acas which helps to resolve employment disputes.

The letter - seen by the BBC - says he is "disappointed" that the BMA has refused to agree to the offer he has put forward.

And it adds: "The extreme strike action planned in December poses a serious threat to that safety."

The first of three days of industrial action is due to take place next week.

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