29/11/2011

Osborne To Unveil Autumn Statement

Chancellor George Osborne will today announce his plans, aimed to help boost the UK’s sluggish economy, in his long-awaited Autumn Statement.

The Chancellor will outline the current state of the UK economy while revealing the plans and schemes that will be used to help minimise pressures on people who are struggling through the recession.

Some of these schemes have already been unveiled and include youth employment schemes, credit easing and infrastructure investment.

Meanwhile The Telegraph reported today that the Chancellor would back a £650m scheme, which if successful would see 250,000 toddlers granted free childcare, and nursery places in a push to get mothers back to work. This would amount to 40% of two year olds being offered free "early education" places.

As well as this the Chancellor will give his response to economic forecasts by the Office for Budget Responsibility(OBR).

It is understood that he is likely to confirm that the UK growth will be lower than expected and borrowing higher than predicted.

The Chancellor will deliver his Autumn Statement at 12.30pm today at the House of Commons- giving an update on the Government's economic plans based on the latest forecasts from the independent OBR.

(LB)

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