- 5 updates
The Treasury has confirmed that the government will announce budget cuts of 1% to departments over the next two years.
Making the announcement on Twitter the Treasury said:
In another message the Treasury said: "Chancellor & Chief Sec have written to cabinet to inform them an extra £1bn a year savings will be made over next 3yrs."
David Cameron, who is in China to promote British industry, has been asked what tomorrow's Autumn Statement will include. He didn't give much away - but he repeatedly insisted that the plan to "turn the country around" was working.
Prime Minister David Cameron has told ITV News' Deputy Political Editor Chris Ship that the coalition's announced cut in energy bills was not in response to Labour's proposed energy price freeze.
Speaking in China, Mr Cameron said: "We have been discussing within the coalition the issue of energy bills for years now. It has taken me longer than I would have liked but I'm very glad we put in place at least some relief on the issue of energy bills."
Prime Minister David Cameron has told ITV News' Deputy Political Editor Chris Ship that the priority of the Autumn Statement will be to "stick to the long term plan" set out by the Chancellor and said he is "confident the plan is working":
David Cameron has appeared to rule out tax cuts for high earners until the end of the decade in an interview with newspapers in China.
Speaking to the Daily Telegraph, the Prime Minister said it would have to wait until the deficit was “dealt with”.
He said: “I’m a low-tax Tory, I believe in allowing people to keep more of their own money to spend as they choose; that’s a very important part of my political views, always has been and always will be.
“But I’m also a fiscal conservative. I believe the first duty of government is to safeguard our economy, and the economy isn’t safeguarded properly until you deal with your deficit.”