Chancellor's Autumn statement

The Chancellor George Osborne has announced a consultation on tax breaks for companies that drill for the gas.

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How will the Autumn Statement affect the North West?

The Treasury has produced a map which shows how some of the measures in the Autumn Statement will affect each area of the country, here is the breakdown for the North West:

  • 27,000 people to be lifted out of income tax and 2.6 million to pay less income tax as a result of Personal allowance reforms.
  • Cancelling the planned rise in fuel duty in January wil reduce running costs for the 3.6 million motor vehicles in the North West, saving a typical motorist £40 a year.
  • £181m to build more than 9,400 new homes for affordable rent.
  • £49m to return over 3,000 empty homes to use.
  • £34m investment in partnership between University of Liverpool and Unilever.
  • £38m to develop the Manchester Cancer Research Centre
  • Salford to be in the 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 431,000 small and medium enterprises in the North West.

See the map in full here.

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