Introduction

Despite warnings this week that the UK was likely to slip back into recession, Chancellor George Osborne has said that the Office for Budget Responsibility’s (OBR) latest annual growth and borrowing figures do NOT predict this happening. However, the figures do show that the bust was deeper and had an even bigger effect on Britain than first thought, he said.

Giving his Autumn Statement in response to the OBR’s report, Mr Osborne updated MPs on the current state of the economy, as well as outlining the Government’s plans for its future growth.

Referring to the ongoing eurozone crisis, the Chancellor said that the Government would do “whatever it takes” to protect Britain from the debt storm.

• Economic growth and borrowing
• Business
• Tax
• Pensions and benefits
• Infrastructure and transport
• Housing
• View official documents and full Autumn Statement