The Old News
The new Chancellor’s first (and last) Autumn Statement contained little to interest us from a personal finance perspective. As usual, the Government confirmed several changes that had already been announced some time ago, including:
The New News
The Bad News The emphasis of the Chancellor’s speech was on increased infrastructure spending, a stop on further new welfare savings measures and an acceptance that government borrowing will be significantly higher than previously projected.
The Institute for Fiscal Studies, the independent think-tank said that even by 2021, real wages in the UK – pay adjusted for inflation – will still not have recovered to their 2008 level -before the global financial crisis.