Autumn Statement Reaction: UK AAA 'safe for today'

AUTUMN STATEMENT

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In today's Autumn Statement, the Chancellor George Osborne downgraded growth forecasts for the next four years as well as reducing pension tax relief.

As expected, GDP growth forecasts were downgraded but Osborne also surprised by cancelling a 3p fuel duty rise in January and increasing the ISA limit to £11,520 from next year. He also ruled out a mansion tax and announced plans to reduce pension relief from £50,000 to £40,00, while reducing the lifetime limit to £1.25m. Increased investment spending was also announced for roads, rails, further education and 'ultra-fast' broadband. All the key points can be found here. Meanwhile, the industry reacts: Azad Zangana, European economist, Schroders "With the coalition completing ...

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