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Autumn Statement: What can we expect?

It's that time of year again. As preparation for the festive season begins to ramp up, there will be presents to buy, cards to write and trees to decorate (and don't forget the annual office parties!).

But before we can enjoy that much needed time off, we must prepare for one of the biggest days in the financial calendar: the Autumn Statement, which takes place on 3 December.

What can we expect?

The economic landscape has certainly changed since the Budget in March. Growth has slowed, the housing market has cooled and recent data revealed that the government will miss its 2014 borrowing targets.

Will the state of the nation's finances force the Chancellor to take a 'steady as she goes' approach? Or will he try to re-charge the economic recovery with fresh tax breaks?

Here's a summary of some interesting pre-statement commentary:

  • Business rates: An "outdated system"?

    Business rates have been a topic on everyone's minds in the run-up to this year's Autumn Statement. Whether it’s the Forum of Private Business (FPB) wanting a cap on rates, the Federation of Small Businesses (FSB) calling for an extension to small business rate relief, many groups have called on the Chancellor to make further changes to the system.

  • Exports: In need of a shot in the arm?

    Over the past few months British exports have held up amid a slowdown in global trade. However, as a survey by the British Chambers of Commerce indicated, things may not remain positive for long.

    There is a good chance then that the Chancellor may move to incentivise exporters. This could mean more support for UK Trade & Investment, or it could mean tax breaks and tax credits for exporting businesses (as the FPB has called for).

  • Tax credits: More support for small businesses?

    The Annual Investment Allowance is due to fall from £500,000 back to £25,000 in April 2016. The Confederation of British Industry (CBI) and EEF, the manufacturers' organisation, have both called for this to be reviewed. The CBI also said it wants the current corporation tax relief for research and development to be "super-charged". TIGA, the trade body for the gaming industry, has called for further tax breaks for creative industries.

  • Devolution: An Autumn Statement for Scotland?

    Since the referendum in September, there has been speculation that the Chancellor may take the historic decision to devolve income tax powers to Scotland. This has been amplified after the government's devolution commission reported that Scotland should have the power to set income tax rates and retain the taxes. We may also see corporation tax devolved to Northern Ireland as David Cameron hinted at earlier in the month.

Stay in the know with our live coverage

On the day of the statement, we'll be bringing you news stories with all the headline announcements and industry reaction. We'll then publish our annual Autumn Statement report the morning after on Thursday 4th December.