Today Chancellor George Osborne revealed his Autumn Statement but what does the statement mean for you?
George Osborne has delivered his first upbeat assessment of the economy, although he cautioned that there’s still more work to do.
The Chancellor has chosen measures today that should shove the recovery along and make it a bit easier for some companies to do business.
ITV News met a group of voters to find out how the Autumn Statement will affect them:
Stay-at-home father Joshua Lovelee and 17-month-old Evie
Josh says a fuel duty cut won't help them much but any help with energy bills is really appreciated though. He's pleased with the introduction of flexible maternity/paternity leave and would like help for flexible childcare when he goes back to work.
Jordan Withy, 19, works in Crucial BMX
Jordan will have to work for the next 51 years to draw a state pension.
Don Cameron of Cameron Balloons
They export 85% of their business and he said the changes are just "tinkering" and he would like to see favourable exchange rates to help businesses.
Effective and immediate action is needed to "tackle the youth unemployment crisis", a trade union warned after George Osborne's Autumn Statement.
TUC General Secretary Frances O’Grady said: “Almost a million young people are currently looking for work and will have been hoping for much more than the Chancellor offered them today.
“While it’s good news that employers are to be encouraged to provide more apprenticeships and that they won’t have to pay national insurance contributions for some young people in the future, effective and immediate action is needed to tackle the youth unemployment crisis.
“Unfortunately all the government has to offer is new measures to make young people work for free, when what is really needed is a job guarantee."
We have always advocated the dual approach of tackling the deficit and driving growth – the OBR forecasts confirm it is working. Let’s stick with what works.
– John Cridland, Confederation of British Industry Director-General
The pressure on the high street has been recognised; the 2% cap on business rates and discount for very small businesses are positive, as is the reoccupation relief.
Abolishing a jobs tax on employing young people under 21 will make a real difference and help tackle the scourge of youth unemployment.
But it was a missed opportunity not to support our hard-pressed energy intensive businesses which are also struggling with rising costs, and the package on housing supply could have been more ambitious.
Economic growth this year and next is predicted to be higher than previously forecast, but then hits a plateau.
A word cloud showing how Twitter reacted to the measures announced in the Chancellor's Autumn Statement has been published by the business advisory service Deloitte UK.
The firm used a social media monitoring tool to trawl tweets using a number of economic and finance-related phrases.
It appears that the issues of tax, business and rates were the most tweeted terms.