2015 Autumn statement and spending review in a nutshell

The Autumn statement has shocked Britain’s population, with the scrapping of cuts to tax credits and an extra £600m being invested in mental health services.

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  • All cuts to tax credits are to be cancelled.

Rowena Mason, The Guardian’s political correspondent said: “Osborne has clearly surprised his MPs by totally abandoning his tax credit changes, which would have cost affected families up to £1,300 each and caused consternation on his own side as well as the opposition. It is a 100% U-turn since his aides were insisting up until recently that he was committed to the cuts in principle.

  • Housing budget doubled to £2bn.
  • No cuts to the police budget.
  • Business rates to be kept by local authorities.
  • £600m more for mental health services.
  • Loans for new student nurses to create 10,000 training places.
  • £15m raised from the “tampon tax” will be used to fund women’s charities.
  • Free infant school meals to be maintained.
  • Basic state pension to rise £3.35 to £119.30 a week from next year.
  • Pledge that money will be found for roads.
  • Increase in cash to the arts councils.
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A full review of today’s Autumn statement and spending review can be found here.