Chancellor’s 2014 Autumn Statement, Wednesday 3 December, 12.30pm

UKParliament

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Autumn Statement 2014
Wednesday 3 December 2014 at c.12.30*

The Chancellor of the Exchequer, George Osborne, will deliver the 2014 Autumn Statement to the House of Commons at 12.30pm on Wednesday 3 December.

The Shadow Chancellor (Ed Balls) will respond to the statement on behalf of the Opposition.

* It may begin later if any Urgent Questions are granted on the day, as Parliamentary business is subject to change.

How it works

The Chancellor of the Exchequer, George Osborne, delivered the Budget Statement on Wednesday 19 March 2014, on the state of the national finances, Government's proposals for changes to taxation and growth forecasts.

During his Autumn Statement the Chancellor updates MPs on the government’s taxation and spending plans, which are based on the latest forecasts for the UK economy, from the Office for Budget Responsibility (OBR).

The OBR's revised forecasts for the economy and the public finances will be published alongside the Autumn Statement on 3 December on the Office for Budget Responsibility (non-UK Parliament website).

Unlike the Budget, there is no formal debate on the Autumn Statement – just questions to the Chancellor like any other Ministerial Statement.

How to watch

We will post up a link to the YouTube video of the Statement for those who wish to watch it as soon as it is available.

The Statement will be streamed live on Parliament TV and will also be available to watch live after the event at Parliament TV: (Silverlight or Windows Media Player required to stream Parliament TV).

Transcripts of proceedings in the House of Commons Chamber are available three hours after they happen in Today’s Commons Debates.

The Treasury will be posting live updates on their Twitter feed during the Statement using the hashtag #AS2014.


Why is there an Autumn Statement?

• The Government is legally required to publish a financial report on the state of the economy twice a year. From December 1976 until November 1992, the Chancellor of the Exchequer made an Autumn Statement to the House of Commons in addition to the annual Budget Statement in the Spring.
  
  
• The Spring Budget and the Autumn Statement were merged and a "unified-Budget" was presented to Parliament in November 1993. The unified-Budget was then replaced in 1997 with the traditional Spring Budget and the publication of a new Pre-Budget Report in the autumn.
  
  
• The coalition government announced in September 2010 that it would replace the Pre-Budget Report with an Autumn Statement. The Autumn Statement includes UK economic growth forecasts produced by the Office for Budget Responsibility.

Facts about the Autumn Statement

• The Autumn Statement, on 3 December 2014, will be George Osborne’s fifth Autumn Statement as Chancellor of the Exchequer
  
  
• While it is called the Autumn Statement it is often given in the 'winter' in the early days of December.
  
  
• It has not always been called the Autumn Statement. When he was Chancellor in the early 1990s Kenneth Clarke preferred to announce his combined tax and spending statements in a single Budget speech in November, but to meet the statutory obligation to publish economic forecasts twice a year, he had a debate around a Summer Statement.
  
  
• Gordon Brown, in his time as Chancellor of the Exchequer between 1997 and 2007, reverted back to the tradition of a statement in the Autumn; he published a Pre-Budget Report around November with his Budget at the traditional time in the Spring

Find out more

The Commons Library briefing paper on the Autumn Statement aims to provide an impartial introduction to the themes and background to the Autumn Statement.

The paper is available to read at Autumn Statement 2014: Background briefing - Commons Library Standard Note.


We hope this is of interest to some MSE'ers?

Many thanks
DOT

UKParliament

We are having a few technical issues making the Chancellor’s Autumn Statement, which was delivered in the House of Commons Chamber today, available on the UK Parliament YouTube account. We will post the link when these issues are resolved and the video is available.

However, those who are interested in watching the Autumn Statement can view it on Parliament TV Player (Silverlight or Windows Media Player required to stream Parliament TV).

UKParliament

We can now link to the YouTube video of the Chancellor’s Autumn Statement, which was delivered in the House of Commons Chamber yesterday, on the UK Parliament YouTube account.

The transcript of the Statement is also now available to read at Commons Hansard: Autumn Statement.

Thanks
DOT

Aquamania

Liked this bit the best

Mr Speaker: Order. There is far too much noise in the Chamber. Mr Opperman, I have told you three times, and I do not want to have to tell you again: be quiet, sit and listen. If you do not wish to do so, get out. The same goes for the Government’s Deputy Chief Whip, the right hon. Member for Chelsea and Fulham (Greg Hands); I have been looking at and listening to him. Let me make it clear to him that he ought to know better. Behave or get out, man.

Ed Balls: We’ll get him out next year, Mr Speaker.

:rotfl: