George Osborne delivers Autumn Statement - Live coverage - The Independent

George Osborne delivers Autumn Statement

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    *Office for Budget Responsiblity did not predict recession but cut growth forecasts to 0.9% this year from the 1.7% predicted in March
    * OBR forecasts unemployment will rise to 8.7% next year before falling to 6.2%
    * GDP to grow by 0.7% next year - down from March prediction of 2.5% - followed by 2.1% in 2013, 2.7% in 2014, and 3% in 2015
    * Not now able to meet aim to see national debt falling by 2014/15
    * £20bn available to small businesses under low-interest National Loan Guarantee scheme
    * Public sector pay to rise by 1% for two years after current freeze
    * Increases in regulated rail tickets, Tube and London buses regulated to inflation plus 1%, rather than expected inflation plus 3%
    * 3p fuel duty rise due in January cancelled
    He finished speaking after 46 minutes at 13.17
    11/29/2011 1:44:58 PM
  • Balls: Economic and fiscal strategy is "in tatters".
    11/29/2011 1:20:57 PM
  • Balls "Cutting too far and too fast has backfired."
    11/29/2011 1:21:37 PM
  • Ed Balls high-scoring start on #BannedList Bingo. Govt's plan "in tatters"; it's "hurting but ... it's just not working"
  • Ed balls: plan a has failed "colosally". Is that a new word? Is it the study of collars? #as2011
  • Balls: Growth this year downgraded from 2.3% to 0.9%
    11/29/2011 1:24:19 PM
  • RT @PSbook Ed Balls accuses Osborne of trying to borrow his way out of a crisis, quoting Cameron at him #AS2011
  • Balls: OBR has downgraded growth forecasts 4 times in 18mths
  • Balls: Government will borrow £158 billion more than forecast a year ago
    11/29/2011 1:25:29 PM
  • #as2011 - will it be the path to salvation or the second longest suicide note in history?
  • Ed Balls confronts Obsorne on the £158bn increase in borrowing from that set out in last year's statement (BBC)

    11/29/2011 1:25:54 PM
  • Ed Balls says Osborne will be borrowing more at the end of the parliament than with the plan inherited from Labour #AS2011
  • Balls: "The Government has broken its promise to balance the books in four years time."
    11/29/2011 1:27:04 PM
  • Balls: "Only Greece, Portugal and Cyprus have grown more slowly in the past year."
    11/29/2011 1:28:42 PM
  • Balls: IMF warned low bond yields are a sign of stagnation
    11/29/2011 1:30:19 PM
  • Balls: "Growth and borrowing targets are off-track"
    11/29/2011 1:31:04 PM
  • Balls: Growth measures are "cobbled together"
    11/29/2011 1:31:40 PM
  • Ed Balls: "They don't like it, but this is the truth." (BBC)

    11/29/2011 1:31:45 PM
  • Treasury officials point to OBR analysis that high commodity prices slowed growth in past year, rather than spending cuts.
  • Balls: Unemployment will rise by 100,000 next year
    11/29/2011 1:32:43 PM
  • Ed Balls: "Why did the Government abolish the Future Jobs Fund in the first place?"
    11/29/2011 1:33:21 PM
  • @j_freedland Don't agree with Balls analysis, but this is a powerful parliamentary performance. A coming of age moment for Balls.
  • Balls: "Bank lending to small businesses has fallen"
    11/29/2011 1:34:07 PM
  • Balls: "Because he is so reluctant to break from his plan, the Chancellor is giving with one hand and taking away with the other."
    11/29/2011 1:34:52 PM
  • Balls: "Why with this Government is it always families, women and children that are paying the price?"
    11/29/2011 1:36:00 PM
  • Balls: "The Government's welfare changes are hitting women hardest."
    11/29/2011 1:36:28 PM
  • Why does the Chancellor hate our countryside? He just called the laws that protect it "ridiculous" #AS2011
  • Osborne and Cameron don't have much to offer in response to Balls' question, "If we're all in this together then why is it families, women and children that miss out?" (BBC)

    11/29/2011 1:37:47 PM
  • Osborne will borrow more than Darling would have. Labour are the Fiscal conservatives now, if we want to be.
  • The Shadow Chancellor Ed Balls has concluded his reaction to George Osborne's Autumn Statement.
    11/29/2011 1:38:20 PM
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