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Britain's economic plan 'working but the job is not done'

Millions in Wales will have to wait longer to retire

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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UK government must 'change tack'

"People have had enough and as was showed at the People's Assembly on Saturday when over 4,000 trade unionists, anti cuts campaigners, pensioners, students, etc came together in London to call for action against government policies, we are now prepared to take the next step to demonstrate we are determined to force the UK government to change tack."

– Ramon Corria, Cardiff Trades Council

First Minister to Chancellor: boost Wales to keep Scotland in UK

The First Minister has written to the Chancellor urging him to carry out within the next two years all the recommendations of a recent report which said the Welsh Government should be given some powers over tax.

Carwyn Jones has told George Osborne that acting quickly to 'enhance devolution' in Wales will help boost the arguments of pro-Union politicians who will be trying to persuade Scottish voters to say no to independence in the country's referendum next year.

In his letter, the First Minsters says that Wales can play a strong role in making the case for Scotland to remain part of the UK by proving that 'constructive reform is achievable' and that 'separatism is not the only alternative.'

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George Osborne: 'We are making progress'

The Treasury have tweeted reaction to the latest GDP figures:

Finally the Treasury tweeted: "…but by continuing to confront our problems head on, Britain is recovering and we are building an economy fit for the future."

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