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  1. National

UK credit rating 'at risk'

The credit rating agency Fitch has warned that the Chancellor's confession during the Autumn Statement that he missed its debt target could threaten the UK's AAA rating. But George Osborne has downplayed the impact potential if that happened.

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  1. Chris Ship

Summary of Chancellor's announcement on benefits

  • State pension will go up by 2.5% - to £110.15 per week
  • Osborne: Working age benefits are being capped for first time. Those of out of work benefits seen their incomes rise twice as fast as those in work (10% v 20%)
  • A similar approach of a 1% rise will apply to those in receipt of benefits (carers and disability benefits to increase with inflation)
  • JSA employment allowance income support uprated by 1% for next 3 years
  • Working tax credits by 1% for next three years (although current freezes will still apply)
  • It saves £3.7bn in 2015/16 says the Chancellor

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