Chancellor to present Autumn Statement and Spending Review today
25 Nov 2015
Chancellor George Osborne will present his Autumn Statement today, his most important House of Commons speech after the March Budget, in which the Government sets out its plans for tax and the economy.
For the first time, the Treasury will be combining the Autumn Statement with an announcement of the results of the annual Spending Review, which specifies the details of Government departmental spending.
There will be a single speech and document covering both fiscal events, with the speech taking place at 12.30pm and the document likely to be available on the gov.uk website shortly afterwards.
Speculation surrounding what will be announced within the Statement is rife: the Chancellor is expected to address the issue of tax credit reforms as a result of the recent defeat in the House of Lords, along with potential caps on charges for cashing in pensions early, and new plans for the expansion of the city devolution deals scheme.
Additionally, it is expected that the Chancellor will announce that house building is to be made a top priority: £7 billion is predicted to be pledged to build more than 400,000 ‘affordable homes’.
Keep an eye on our website – we’ll be bringing you the main headlines from the Autumn Statement and Spending Review throughout the afternoon, with a full detailed summary of the key points published later tonight, ready for you to read tomorrow morning.