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IFS: Autumn Statement means 'colossal cuts'

Yesterday's Autumn Statement means the UK is set for "cuts on a colossal scale", according to the Institute for Fiscal Studies.

George Osborne earlier condemned "hyperbolic" coverage of his spending plans.

Public spending is likely to fall to its lowest level since the 1930s during the next Parliament, according to new analysis from the Office for Budget Responsibility.

However, Osborne said warnings over the cuts were "nonsense" - particularly targeting the BBC for criticism over its coverage.

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Stamp Duty calculator 'used 500,000 times' in 24 hours

An online calculator to work out how the new Stamp Duty system will affect homebuyers has been used 500,000 times in the last 24 hours, Treasury Minister David Gauke has announced.

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