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Autumn Statement: Regional breakdown

The Chancellor has delivered his Autumn Statement in the Commons.

George Osborne claims measures announced for the Yorkshire and the Humber region include:

  • 22,000 people to be lifted out of income tax and 1.9 to pay less income tax as a result of Personal Allowance reforms.
  • Cancelling the planned rise in fuel duty in January will reduce running costs for the 2.7 million motor vehicles in Yorkshire and the Humber, saving a typical motorist £40 a year.
  • £104 million to build over 5,000 new homes for affordable rent.
  • £18 million to return over 1500 empty homes to use in Yorkshire and the North East.
  • £314 million upgrade on the A1 between Leeming and Barton.
  • A160/180 at Immingham piloted as an accelerated road scheme.
  • York to be in second wave of super-connected cities.
  • Government will provide a grant for councils that freeze council tax in 2013-14.
  • Business support measures will benefit 345,000 small and medium enterprises in Yorkshire and the Humber

Employee-owners plan "brilliant"

Plans to give workers the opportunity to give up employment rights in return for shares in their company have been described as "brilliant" by a North Yorkshire businessman-turned-MP.

Chancellor George Osborne announced new "employee-owners" will receive between £2,000 and £50,000 of shares that will be exempt from capital gains tax when sold, and in return will give up rights on unfair dismissal, redundancy and the right to request flexible working and time off for training.

TUC General Secretary Brendan Barber said: "These complex proposals do not look as if they will have very much impact as few small businesses will want to tie themselves up in the tangle of red tape necessary to trigger these exemptions."

But Skipton and Ripon MP Julian Smith has given the proposal his backing:

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Great announcement at #cpc2012 on 'employee owners' by Chancellor. Freeing up business from red tape whilst good for staff. Brilliant.

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