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Osborne’s Autumn Statement due on 5th December

The Chancellor will deliver his ‘Autumn Statement’ (previously known as the ‘Pre-Budget Report’) on 5th December 2012.

George Osborne will provide the Commons with an update on the state of the economy, using statistics produced be the Office of Budget Responsibility (OBR).

Clearly, the Chancellor will hope that he can still meet his original target of reducing the deficit by the end of the current Parliament, or may be forced to  drop his spending forecasts altogether – which would delight the Opposition.

Osborne may use the opportunity to announce new measures, as he did in 2011 when he announced a number of new initiatives aimed at boosting economic growth – such as the National Loan Guarantee Scheme, and an extension to the small business rate relief holiday.

You can find our more about the Autumn Statement, and access updates nearer the time on the HM Treasury site.