Here are the key points for businesses from George Osborne's Autumn Statement and Spending Review.
Carlisle is set to get a new Enterprise Zone , and the Chancellor claimed that the northern economy has grown faster than the south.
Here are the key points:
- A budget surplus is still expected
- £12bn worth of cuts are planned
- Chancellor claims north has grown faster than south
- Growth this year of 2.4%, then 2.4% in 2016, 2.5% 2017
- Tax credit cuts have been scrapped entirely. The £4.4 billion of proposed cuts will no longer happen.
- Osborne says the NHS is the first priority of the government, and the British people.
- Confirmation of state pension increase
- £12bn promised for local growth fund and 26 enterprise zones including Carlisle
- Councils to confirm own business rates
- Protection of funding for National Parks
- Increased spending in nuclear and other energy generation
- Small business rate relief scheme to be extended by another year
- Additional investment in infrastructure will see the electrification of the Transpennine rail services across the North West
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