Autumn Statement  

The Autumn Statement delivered by the Chancellor is a pre-cursor to the Budget held in the Spring. This year’s Autumn Statement had even greater significance as the world’s economies continue in turmoil with huge threats to parts of the Eurozone, which then have a knock-on effect on our own economy.The Chancellor was very clear that whatever the Government has to do to protect Britain from this debt storm it will do. This means tough decisions which naturally will cause concern and worry across the country. However as our interest rates stay low, it means that many people’s largest monthly outgoing, their mortgage payment, does not start to rise. Also it means that the Government is not facing huge interest rates on its own borrowings. A 1% rise in our market interest rates would add £21 billion in debt interest payments, a cost that we all, as taxpayers would have to bear. This rise...