Chancellor George Osborne has delivered his Autumn Statement.
Here are the key points:
BUSINESS
Credit easing programme to underwrite up to £40bn in low-interest loans to small and medium-sized firms
£1bn business finance partnership to help secure funding for medium-sized firms
Regional Growth regeneration fund to get £1bn in extra funding
£250m support package for energy-intensive firms
Rate relief holiday for small firms to be extended to April 2013
Bank levy to be increased in January
ECONOMIC GROWTH
2011 forecast revised down to 0.9% from 1.7%
2012 forecast revised down to 0.7% from 2.5%
In 2013, 2014 and 2015, forecast growth will be 2.1%, 2.7% and 3%
GOVERNMENT BORROWING
Borrowing forecast to be £127bn in 2011-2, falling to £120bn, £100bn, £79bn and £53bn in following years
Extra £112bn in borrowing over four years
Debt to GDP ratio to peak at 78% in 2014-5, falling afterwards
INFRASTRUCTURE SPENDING
£5bn new spending over three years, including £1bn for the rail network
Go-ahead for 35 road and rail projects across England
Aim to unlock a further £20bn in investment from pension funds
Mr Osborne also announced a £1bn "youth contract" to subsidise six-month work placements for 410,000 young people
PUBLIC SECTOR PAY AND PENSIONS
1% cap on public sector pay rises for two years after the end of current freeze next year
Review into regional pay adjustments
Rise in state pension to 67 to be brought forward to 2026, saving an estimated £59bn
TAXES AND ALLOWANCES
Planned 3p fuel duty rise in January to be scrapped. Duty will rise by 3p in August 2012
Benefit payments uprated by 5.2% next year, in line with inflation
Basic state pension to rise by £5.30 to £107.45, pension credit to rise by £5.35
Below inflation increase in some working tax credits
Above inflation £110 rise in the child element of the child tax credit scrapped
Bank levy to be increased in January
EDUCATION AND FAMILIES
£1.2bn spending on school buildings. 100 additional free schools to be built
£50 cut in water bills for families in the south-west of England
Childcare places for most deprived two-year-olds in England doubled to 260,000
TRANSPORT
Rise in regulated rail fares to be capped at 6.2% – 1% above inflation – in January, down from 8.2%
HOUSING
Mortgage indemnity scheme to help up to 100,000 people buy homes with 5% deposit.
£400m scheme to kick-start stalled construction projects in England
50% discount for social tenants wanting to buy their own homes
