Capital Investment and tax cut for low paid.



George Osborne has just issued his Autumn Statement and outlined the progress made by the Coalition since 2010.

This includes 1.2 million jobs created in private sector since May 2010. The Chancellor reaffirmed his commitment to cut deficit, already cut by 25% since 2010.

Economy expected to grow by 1% next year and by up to 2.8% by 2017/18.

Unemployment set to peak at 8.3%, 0.4% lower than previously forecast.

The Chancellor reaffirmed his commitment to cutting the deficit which has already fallen from 11.2% of GDP in 2010 to 7.9% this year and 6.1% next year.

Osborne is taking money from quangos & Whitehall and spending it on roads, science, small businesses and schools. Corporation tax cut to just 21p.

Personal allowance is up 1% taking thousands of low paid workers out of tax and has cut full-time minimum wage tax bill in half.

Chancellor also cancelled the 3p fuel duty rise set by the prior government.

£2.2bn extra cash will be flowing toward working families as a result of the Chancellors Autumn Statement.

Sky News economics editor commentator Ed Conway labelled it a "givaway Autumn Statement".

Jason McCartney MP ‏(@JasonMcCartney) tweeted - "Under last Govt', someone on the Minimum Wage paid £1,000 in Income Tax, proud that this Govt' have cut their tax bill in half #fairertaxes"