Autumn Statement - as it happened: George Osborne announces sweeping changes to stamp duty – and they kick in at midnight

Chancellor announces stamp duty overhaul that represents '£800m a year tax cut'

Maria Tadeo
Tuesday 02 December 2014 16:57

Key points from George Osborne's Autumn Statement:

* Stamp duty reform to save money for 98% of homebuyers
* "Very substantial savings in public spending'' still required
* £10 billion of Whitehall efficiencies in Whitehall planned
* Air passenger duty for under-12s abolished May 2015
* Borrowing estimated £91bn this year (OBR forecast £86bn)

Other points:
* UK "fastest growing of any major advanced economy''
* More restraint on public sector pay.
* £5bn to be raised by tackling tax avoidance and evasion
* Inflation to fall to 1.2% next year
* Wages to grow above inflation for the next five years
* Fuel duty remains frozen
* Britain awarded lead role in effort to explore Mars
* National Insurance on young apprentices to be abolished

Read more:
* £3m grant for vital hostel for homeless veterans
* Tax crackdown on multinationals
* £45m boost for small businesses
* Plan 'to build the Northern powerhouse'
* High Street welcomes business rate reform
* Stamp duty reform 'will affect 98%'
* Balls: Working people still being squeezed
* Children's TV boosted by tax breaks
* What Osborne said - and what he meant
* George Osborne's speech in full

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