Autumn Statement 2013: at a glance

Autumn Statement 2013: at a glance

Chancellor George Osborne delivered his 2013 Autumn Statement at 11.15am on 5 December 2013. Here’s our summary of the key announcements.


• Growth in 2013 revised upwards to 1.4%; then 2.4% next year, followed by annual rises of 2.2%, 2.6%, and 2.7%.

• Britain growing faster than any other western economy.


• No deficit by 2018-19.

• Deficit falls to 6.8% in 2013-14; followed by 5.6% in 2014-15; then 4.4%, 2.7%, and 1.2% in 2017-18.

• Borrowing forecasts: £111 billion in 2013-14 (lower than the March Budget forecast of £120 billion), then £96 billion next year, followed by £79 billion in 2015-16 and £51 billion the year after.


• Total number of jobs to rise by 400,000 in 2013.

• Number of people claiming unemployment benefit fell by 200,000 in last six months.

• Unemployment to fall to 7% in 2015.


State pension not included in new cap on total welfare spending.

• Maths and English tests and training to become mandatory for 18-21-year-olds hoping to claim unemployment benefit.


• State pension to rise by a further £2.95 a week from April 2014.

• An increase to the state pension age will be brought forward. It will increase to 68 in 2030s and 69 in the late-2040s.


• As announced in the March 2013 Budget, the income tax personal allowance will rise to £10,000 from April 2014.

• From April 2015, new married tax allowance will allow married couples and civil partners to transfer £1,000 of their unused allowance to the higher earner.

From April 2015, non-residents must pay capital gains tax on residential property sales.

• New measures to combat tax evasion.

• No increase in Corporation Tax.

Stamp Duty on Exchange Traded Funds abolished.


Green levy tweaks worth £50 off customers' energy bills confirmed.

• Government will prioritise offshore wind power over onshore.

• Tax allowance for shale gas investors.


Mortgage providers Virgin and Aldermore join Help To Buy scheme.

• House prices forecast to be 3.1% lower in 2018 than they were at their peak in 2007.

• Funding for Lending scheme focus shifted away from property to small businesses.


Next year's planned Fuel Duty rise of 2p a litre on petrol to be cancelled.


£1,000 business rate discount for retailers and small businesses with premises worth up to £50,000.

• Business rate relief scheme extended for a year.

• Increases to business rates capped at 2% a year from 2014. Plus, firms can pay in 12 monthly instalments.

• Export finance for British businesses doubled to £50 billion.

• Employers will no longer have to pay NI contributions for staff aged under-21.

Related articles