Autumn Statement 2013

George Osborne has delivered his latest assessment of the state of the economy in the Autumn Statement, announcing growth forecasts for the coming years are 'significantly up'. A net increase in budget for the Welsh Government has also been promised.

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Millions in Wales will have to wait longer to retire

George Osborne
Osborne announces his statement later today Credit: PA

People in Wales have been warned they'll have to wait longer to collect their state pension as George Osborne prepares to deliver his latest Autumn statement - an assessment of the state of Britain's economy.

According to Government sources, people in their 40s will have to wait until 68 to retire, while those in their 30s will have to wait another year until they are 69.

News of the increase came after Mr Osborne last night announced a further £3billion spending squeeze over the next three years.

He is due to deliver his full statement to the House of Commons at 11:15 GMT.

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