Autumn Statement 2011
- HM Treasury
- TSO (The Stationery Office)
The 'Autumn Statement 2011 (Cm. 8231)' sets out the Government's actions in three areas: protecting the economy; building a stronger economy for the future; and fairness.
This document details plans for:
public spending in 2015-16 and 2016-17;
raising state pension age to 67 between 2026 and 2028;
setting public sector pay awards at an average of 1% for each of the two years after current pay freeze ends; and
£21 billion credit easing measures to support smaller and mid-sized businesses.
To build a stronger economy, the Government is funding £6.3 billion of additional infrastructure spending, £1 billion of private sector investment in regulated industries will be supported by Government guarantee, and the Regional Growth Fund for England will be increased by £1 billion.
Other measures on credit easing and enterprise include:
up to £20 billion National Loan guarantee Scheme;
investigation of alternatives to tribunal hearings;
possible changes to collective redundancy processes;
two proposals for radical reform of employment law; and
a Seed Enterprise Investment Scheme offering 50% income tax relief on investments.
Education will see an extra £600 million to fund 100 more free schools, and £600 million for local authorities with the greatest demographic pressures.
Housing support includes a new build indemnity scheme to increase the supply of affordable mortgage finance and a revised right to buy scheme.
Fairness measures cover fuel duty, rail fares, a Youth Contract worth £940 million, and extending the offer of 15 hours free education and care a week for disadvantaged two year olds.
|Format||Paperback||Published||29 Nov 2011|
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