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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