Daily Archives: December 5, 2013

Janan Ganesh

Today, George Osborne had the rare pleasure of announcing economic news that is better – not worse – than was expected when he last held a major fiscal event. The Autumn Statement declared that growth, employment and the public finances are all heading in the right direction. Even some bad news from the past, such as the double-dip recession earlier in the parliament, was revised out of existence.

But the chancellor’s political challenge was to combine all this optimism with unwavering commitment to austerity, the cause that defines him and the government. Veering off this theme to join the opposition Labour party in a skirmish over living standards this autumn has left the Tories looking like slaves to the news cycle. 

John Aglionby

George Osborne has presented his Autumn Statement. Its highlights included a large increase in the economic growth forecast, a predicted budget surplus in 2018, a hike in the state pension age and free school meals for all infants.

By John Aglionby and Emily Cadman with contributions from FT colleagues