Autumn Statement 2014: Your at a glance guide

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Check out the YEP’s at-a-glance guide to today’s Autumn Statement and how it will affect YOU.

* Limit on saving in New ISAs to rise to £15,240 and ISAs to be inherited tax free.

* Hospice charities, search and rescue and air ambulance to be granted VAT refunds.

* Inheritance tax exemption extended to cover aid workers who die dealing with humanitarian emergencies.

* End of military operations in Afghanistan to save an additional £200 million this year.

* New 25% diverted profits tax on multi-national profits generated in the UK and “artificially” moved out of the country.

* Fuel duty is kept frozen.

* Stamp duty reform to save money for 98% of homebuyers and represent total tax cut of £800 million a year.

* Higher rate income tax threshold to rise to £42,385 next year.

* Income tax free personal allowance to rise to £10,600 rather than the planned £10,500 next year, giving wage boost of £825 a year.

* National Insurance on young apprentices to be abolished.

* Reform of residential property stamp duty so that rates fall only to that part of the property price that falls within each band - 0% in first £125,000 then 2% on the portion up to £250,000 then 5% up to £925,000, then 10% up to £1.5 million, then 12% on anything above that, saving £4,500 on average priced home.

* People who die under 75 to be enabled to pass on annuities tax free.

* Tendering for new franchises for Northern Rail and Trans-Pennine Express to replace pacer carriages with modern trains.

* Government-backed loans of up to £10,000 made available for all students undertaking post-graduate masters degrees.

* Air passenger duty for children under 12 abolished in May 2015 and for under 16s in 2016.

* Clampdown on aggressive tax avoidance to raise £2.8 billion.

* New sovereign wealth fund to invest proceeds from shale gas resources in the North in the north of England.

* Annual charge on properties “enveloped” to avoid stamp duty to rise by 50% above inflation on properties over £2 million.

* Bank profits which can be offset by losses for tax purposes to be limited to 50%, meaning banks will pay almost £4 billion more over the next five years.

* National debt incurred during First World War to be repaid.

* Total welfare spending set to be £1 billion lower than Budget forecast and to continue falling as share of GDP.

* Plan published for a further £10 billion of efficiencies in Whitehall, and Chancellor commits to raising at least £5 billion by cracking down on tax avoidance and evasion.

* Investment of £250 million in new advanced material science institute in Manchester with branches in Leeds, Sheffield and Liverpool.

* Inflation-linked increase in business rates capped at 2% and discount for shops, pubs and cafes increased by 50% to £1,500.

* Charge for non-dom tax status to rise to £60,000 a year for those resident for 12 of the last 14 years and £90,000 for those in the country for 17 of 20 years.

* Commitment to complete public service pension reforms, saving £1.3 billion a year.

* Public sector pay restraint in the next Parliament to deliver savings “commensurate” with the £12 billion achieved over the past four years.

* Employment Allowance of £2,000 to be extended to carers.

* Mr Osborne confirmed additional £2 billion every year for the frontline of the NHS and a £1.2 billion investment in GP services paid for from foreign exchange fines.

* The Government will spend £10 billion less this year than set out in its plans.

* The coming years will require “very substantial savings in public spending” and a new Charter for Budget Responsibility will be published next week, with a House of Commons vote in the new year, to reinforce the commitment to deliver them.

* Government will meet its debt mandate a year late and fiscal mandate two years early.

* Surplus of £23 billion predicted for 2019/20. Deficit as percentage of GDP at 5% this year, falling to 4% next year, then 2.1% and 0.7% before moving into surplus of 0.2% in 2018/19 and 1% in 2019/20.

* Regular earnings growth is now faster than inflation, at 4% for those in full-time work for over a year.

* Half a million new jobs created over the last year, with numbers claiming unemployment benefit falling by 23% and young people on long-term jobless benefit almost halving. Unemployment forecast at 5.4% next year before settling at 5.3%.

* Mr Osborne announced a £45 million package to support exporters to economies in Asia, Africa and South America.

* Britain awarded the lead role in the international effort to explore Mars.

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