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The Chancellor of the Exchequer George Osborne has just delivered his last Autumn Statement to Parliament before the General Election in May 2015. chancellor

George Osborne insisted that the economy is in good health and borrowing is on target.

Here is a summary of what was announced today.

  • Stamp duty will be cut for 98% of people who pay it, only highest value residential properties will pay more.
  • Unemployment forecast to fall to 5.4% next year before settling at 5.3%
  • An extra £2bn every year for the NHS and £1.2bn investment in GP services.
  • Hospices are to be refunded VAT payments.
  • Fuel Duty to remain frozen.
  • Age passenger duty for children under 12 will be abolished next may and under 16’s in 2016.
  • Business rates will be cut and capped with extra help for the High Street.
  • Government backed student loans of up to £10,000 will be available to all those undertaking  postgraduate masters degrees.
  • The ‘Funding For Lending’ scheme has been extended by a further year focusing exclusively on smaller firms.
  • Total welfare spending will be £1bn a year lower than forecast.
  • 55% ‘Death Tax’ on pensions will be abolished and inherited ISAs will be kept tax free.