Here are my first thoughts on the Autumn Statement 2012, with a mix of tweets and retweets:
Osborne says that OBR believes weak growth is down to weak trade due to Euro crisis #EDP24 #as2012
— Joe Watts (@JoeWatts_) December 5, 2012
Growth this year will be negative say OBR at -0.1 per cent #bbceconomy #as2012
— norman smith (@BBCNormanS) December 5, 2012
Osborne’s right about UK borrowing costs being at record low – 10yr gilts were yielding 3.14% two years ago, 1.81% today
— Graeme Wearden (@graemewearden) December 5, 2012
Osborne pitch is: figures are bad, but accurate (cough, Brown, cough) and better than rest of Europe #AS2012
— Mark Pack (@markpack) December 5, 2012
Fiscal numbers sound a lot better than expected. Osborne will be hoping the OBR has got it right or the March budget will be uncomfortable.
— David Smith (@dsmitheconomics) December 5, 2012
That pesky spending review for 2015-16 (ie year that starts just before next election) now will be spring 2013 #AS2012
— Mark Pack (@markpack) December 5, 2012
Govt sticking to 0.7% international aid budget. Good. #AS2012
— Mark Pack (@markpack) December 5, 2012
Pleased that Chancellor has just said Govt will not introduce regional pay in the NHS
— Steve Webb (@stevewebb1) December 5, 2012
Lots of investment in road/rail in the north (and elsewhere) – Osborne sees importance of Tories making electoral gains there AS2012#
— MHP Public Affairs (@MHPpolitics) December 5, 2012
£600m for science investment – good in itself + sign of how ‘money for science’ has become a high priority for all parties
— Mark Pack (@markpack) December 5, 2012
Having said that: Ed Balls and Labour now have demonstrably lower plans for investment spending than the Coaliton. #as2012
— Faisal Islam (@faisalislam) December 5, 2012
.@nick_clegg shaking his head as Osborne attacks idea of new property tax #AS2012
— Mark Pack (@markpack) December 5, 2012
Reduction in pension allowances for the wealthy – to 40k contribution/year and 1.2 million total – saves a billion!
— Julian Huppert (@julianhuppert) December 5, 2012
Note how Osborne talks about cutting welfare fraud *and* errors? That’d be because errors cost far more than fraud #AS2012
— Mark Pack (@markpack) December 5, 2012
Most benefits to go up 1% a yr for next 3 yrs. Real terms cut in other words #AS2012
— Mark Pack (@markpack) December 5, 2012
Same 1% for higher level tax band + inheritance tax allowance – so tax also going up in real terms #AS2012
— Mark Pack (@markpack) December 5, 2012
Working age benefits up by only 1%. There’ll be a vote on it. Expect GO to demand that Lab say how they’ll vote on it, potential wedge issue
— James Forsyth (@JGForsyth) December 5, 2012
More or less freezing higher-rate threshold will cause howls of anguish on Tory backbenches. But makes package fair bit less regressive
— Tom Clark (@guardian_clark) December 5, 2012
Housing benefit for under-25s KEPT thanks to Lib Dem pressure #autumnstatement #LibDemWin
— Michael German (@mjgerman) December 5, 2012
Lots of help for industry: cut in corporation tax, again + big new capital allowances / rate relief #AS2012
— Mark Pack (@markpack) December 5, 2012
Personal tax allowance was £6475 in 2010 say George. 2m lowest paid since taken out of tax. Next year will by extra £235 to £9440
— Chris Ship (@chrisshipitv) December 5, 2012
Tories get fuel duty rise axed; Lib Dems get extra increase in basic income tax allowance #AS2012
— Mark Pack (@markpack) December 5, 2012
It’s not juts Labour that faces tricky time over Bill on keeping benefit changes to 1%. Lib Dems too.
— Mark Pack (@markpack) December 5, 2012
