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Autumn Statement

The Chancellor, George Osborne, is expected to deliver his autumn statement this lunchtime. Ahead of the announcement speculation is rife that he plans to cut welfare spending and also pospone the 3p rise in fuel duty until the next budget.

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Capital investment 'will help bolster' economic confidence

The joint ministerial committee at a meeting in 10 Downing Street earlier this year Credit: Stefan Rousseau/PA Archive/Press Association Images

Wales' First Minister has made a fresh plea to Chancellor George Osborne for more capital investment funding.

Carwyn Jones has joined forces with Northern Ireland's First Minister Peter Robinson, Deputy First Minister Martin McGuinness and Scotland's First Minister Alex Salmond to make the plea ahead of today's Autumn Statement.

The ministers say that an injection of funding for new business ventures would "support the recovery and help bolster economic confidence".

Adding that they have employed a "variety of innovative measures" to increase funding for major public infrastructure projects but these cannot "fully offset" the cuts from Westminster or their impact in the three countries.

In a statement the ministers said:

"Increasing capital investment by simply cutting departmental budgets will not achieve the increase in demand in the economy that is so urgently needed. This investment must be additional.

This afternoon's Autumn Statement provides the UK Chancellor with an ideal opportunity to invest in growth, support the economic recovery and help bolster economic confidence."

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