Autumn Statement in detail

Taxation

• Basic rate of income tax raised by £235 to £9440
• Higher rate tax threshold to rise by 1% in 2014 and 2015 from £41,450 to £41,865 and then to £42,285
• Main rate of corporation tax to be cut to 21% from April 2014
• Inheritance tax threshold to be increased by 1% next year
• ISA contribution limit to be raised to £11,250 from next April

Benefits and Pensions

• Working age benefits to rise by 1% in each of the next 3 years
• Annual pension relief allowance reduced to £40,000 from 2014/15
• Lifetime pension relief allowance down to £1.25m
• Maximum amount taken through income drawdown increased from 100%  to 120% of GAD rate
• Basic state pension up by 2.5% to £110.15 per week
• Child benefit up by 1% for two years from 2014

Fuel

• The planned 3p increase to fuel duty cancelled

Jobs

• Unemployment set to peak at 8.3%

Transport

• Extra £1bn on road improvements
• £1bn loan to extend to Northern Line

Education

• £1bn to improve good schools and build 100 new free schools
• £270m for further education colleges

Infrastructure

• £600m for scientific research
• Ultra-fast broadband expansion in 12 cities