Autumn Statement 2012: As it happened
Key Points
- George Osborne said austerity measures would continue a year longer to 2018, but Britain was "heading in the right direction"
- Shadow chancellor Ed Balls said the government had failed and the average family was 拢20,000 worse off since it came to power in 2010
- Some benefits will rise less than the rate of inflation and higher earners will have to pay more tax on pension savings
- The 3p rise in fuel duty planned for January has been cancelled
- The main rate of corporation tax will fall from 22% to 21% from April 2014
- An extra 拢1bn will be spent on road improvement schemes and the Business Bank will get 拢1bn to try to boost growth