Advertisement

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.

View all 12 updates ›

Spotlight on welfare budget in Autumn Statement

Chancellor George Osborne will deliver his Autumn Statement this lunchtime Credit: Dominic Lipinski. Press Association Images

The Chancellor, George Osborne, is expected to deliver his Autumn Statement this lunchtime.

The Statement provides an update on the Government’s plans for the economy based on the latest forecasts from the Office for Budget Responsibility.

Amongst the key points expected to be announced are deeper cuts to the welfare budget and the planned 3p fuel duty rise in January will be postponed until August.

Earlier this week, the Chancellor admitted it is taking longer to tackle the problems with Government finances than expected but said he would be sticking with his deficit-reduction programme despite being unlikely to meet his own targets on public spending.

More on this story