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.
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.
- Growth forecasts are "significantly up" in the largest improvement at any Budget or Autumn Statement for 14 years, with UK growing faster than any other major economy.
- The state pension will rise by £2.95 a week from next April. People now in their 40s will receive a state pension at 68. Those in their 30s will be 69.
- Financial resources will be provided to fund expansion of free school meals to all school children in reception, year one and year two.
- The fuel duty rise for next year has been cancelled.
- Plans to increase train fares by 1% above inflation has been cancelled.
The Chancellor's Autumn Statement won the support from the Federation of Small Businesses.
– John Allan, chairman of the Federation of Small Businesses
Today's Autumn Statement represents steady progress, with a range of announcements that address members' concerns in the cost of doing business, with action on business rates and confirmation that next year's fuel duty rise will be cancelled.
The statement is a sobering reminder about the scale of the deficit the country faces and the tough choices which need to be made.
We therefore welcome the use of what spare resources the Chancellor could find to focus tax cuts on encouraging firms to take on younger workers, which must be an overriding priority.
The Government has said that future changes in the pension age will be based on the principle that workers should expect to spend about one-third of their adult lives, on average, in retirement.
Filming with 19 year old Jordan who's been working since he was 15 - unsurprisingly he s not v pleased he won't get a pension for 51 years