The Chancellor of the Exchequer, George Osborne, addressed the nation on 25 November with his 2015 Autumn Statement, and the first Spending Review since 2010, providing an update on the Government’s economic plans.
He started his announcement by highlighting the improved state of Britain’s economy, a contrast to five years ago when the economy was in crisis and needed rescuing. Today Mr Osborne promised to rebuild Britain, deliver a surplus by 2020, and deliver both economic and national security.
Our economy is growing faster than any other country in the G7 and this recovery will be felt throughout Britain. The Chancellor announced the fantastic news that Kingmoor Park is to receive Enterprise Zone status which will make it more attractive to investors.
Due to this economic recovery, George Osborne was able to announce a U-turn on the proposed cuts to tax credits, a rise in the NHS budget, and no cuts to the police budget in England and Wales. In addition, 400,000 affordable homes will be built by the end of the decade as Britain continues to prosper.
Our Tax Experts have now dissected all of the information and broken it down to create easy to understand summaries for you.