My reaction to the Autumn Statement

Yesterday the Chancellor of the Exchequer delivered his second Autumn Statement in the House of Commons. The Autumn Statement is an opportunity for the Chancellor to update Parliament on the health of the economy, as well as set out the Government’s spending priorities ahead of the next Budget in March. The Chancellor made clear yesterday that against a backdrop of recession in the Eurozone and a global economic slowdown, there is still a long way to go to eliminate Britain’s deficit and restore our economy. However, I was encouraged to see that progress is being made. For example, the Government has reduced the deficit by 25% in just two years, 1.2 million new jobs have been created in the private sector since the Government came to office, and we have seen our exports to emerging markets double. A number of measures announced yesterday are worth highlighting in particular: To help Britain win the global race: