UK OSBORNE: No net rises in taxes in autumn statement

Market news

5 December 2012

UK OSBORNE: No net rises in taxes in autumn statement

Extending fiscal consolidation into 2017-18

Fiscal consolidation on spending/tax 80/20 by 2015

Sees net debt at 77.3% GDP by 2017-18

OBR forecasts net debt 2012-13 on at 74.7%/GDP; 76.8; 79.0; 79.9

Will meet fiscal mandate including APF transfer

Aiming to hit debt goal 2016/17 not 2015/16

UK deficit 2012-13 forecast 6.9%

Deficit seen 6.1% GDP 2013-14

Deficit seen 5.2% in 2014-15

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UK Finance Minister Osborne: Economy is recovering, although it will take time

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