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Autumn Statement 2013
Insight and Stakeholder Commentary
December 5 2013
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Autumn Statement 2013Britains economic plan is working. But the job is not yet done.
It was a tale of two messages on Thursday as the Chancellor of the Exchequer George Osborne provided MPs with an updateon the governments taxation and spending plans, in light of the latest revised economic forecasts from the Office for Budget
Responsibility (OBR).
For the first time at the helm of the UKs public finances, Osborne was able to deliver his statement against a relatively rosy
backdrop for the UKs economy, but it was clear from the start that the OBRs revised forecasts for improved economic
growth would not lead to a barrage of spending giveaways by the Chancellor.
Instead this was to be a fiscally neutral Autumn Statement containing a range of measures that would continue the govern-
ments long term plan of tackling the deficit and bringing the public finances back in the black.
In that vein, Osborne announced that the state pension age would increase to 68 in the mid-2030s and by 69 in late 2040; there
was a renewed commitment to a cap on welfare spending; and from 2015 a new capital gains tax would be imposed on non-
residents selling property in the UK.
Departmental budgets would also be cut by an extra 1bn per year in the next two years as the Chancellor spoke of a
responsible recovery and a commitment to fixing the roof when the sun is shining.
Osborne was however able to tell the House that the economy was growing faster than any developed economy in the world
and that continued reductions in borrowing and the budget deficit could leave the UK with a small surplus by 2018-19.
As a consequence there was some good news for households and businesses with the announcement of a married couples taxbreak, the capping of business rates at two per cent, a freeze in fuel duty for the second year running and a commitment to
375m of infrastructure projects in the coming years.
In response, shadow chancellor Ed Balls attacked the government for breathtaking complacency and for being in complete
denial of the cost of living crisis facing millions of people in our country.
Contents
Headlines
OBR Projections
Tax policy decisionsBusiness and Economy
Public Finances and Departmental Budgets
Welfare and Pensions
Health
International Affairs and Defence
Energy and Environment
Home Affairs and Justice
Housing and Planning
Local Government
Transport
Culture, Media and Sport
Schools, Higher Education and Science
Further Education and Skills
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Autumn Statement Insight and Stakeholder Commentary
Headlines at a glance
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Oce for Budget Responsibility Projecons
The Oce for Budget Responsibility (OBR), established in 2010, has provided an analysis of the scal outlook for the
country alongside the Chancellor's statement.Key figures
The OBR has revised the GDP growth projections from 0.6 per cent to 1.4 per cent for 2013. The OBR puts this down tostrong private consumption and improved residential investment.
The OBR predicts that the rate of growth as seen in 2013 will not be sustained in 2014 due to continued low earnings, changingcredit conditions and productivity and earnings. However growth will continue to increase, with an expected 2.4 per centgrowth (against the previous prediction of 1.8 per cent).
Total government receipts have been revised up by 3.4bn, as have receipts for stamp duty, VAT and corporation tax. As a re-sult, borrowing projections have been downgraded, reaching 19.3bn in 2017/18, a cumulative downward revision of 73.1bnup to 2017/18.
Increases in growth and rises in receipts have affected the public sector net borrowing 'break even' projection date which isnow 2018/19 (see table below), the first surplus in 18 years. The overwhelming majority (80 per cent) of this surplus will havebeen achieved through lower public spending, the rest made up from higher receipts and the rise to VAT.
By 2018/19 total government consumption of good and services, as part of day to day spending will be at its lowest share ofGDP since 1948.
Compared to projections in March of this year, public sector net borrowing is expected to fall by an additional percentage pointannually. Overall net borrowing will have fallen by 11.1 per cent of GDP against borrowing figures of 2009/10.
% 2012
(ouurn)
2013 2014 2015 2016 2017 2018
GDP Projecon
(December 2013)
0.1 1.4 2.4 2.2 2.6 2.7 2.7
Previous GDP projec-
on dierence (against
March 2013)
0.0 0.8 0.6 -0.1 -0.1 -0.1 NA
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Housing and employment
Employment has been higher than the OBR previously projected, as Osborne outlined in his statement, and unemployment wasat its lowest level in 17 years. Employment is expected to reach 31.2 million by 2018 and unemployment to fall below six percent by the close of 2017.
House prices picked up in 2013, rising by 3.8 per cent on average. The OBR projects house price inflation to be above five percent in 2014, above seven per cent in 2015 and ten per cent in 2017/18 against their 2013 projections.
Fiscal mandate
In the June 2010 Budget the coalition government set the target of balancing the budget (CACB) by 2019 and see public sectordebt falling as a share of GDP in 2015/16.
The OBR states;
"We judge that the government has a greater than 50 per cent chance of meeting thefiscal mandate. The CACB is forecast to be in surplus by 1.6 per cent of GDP in2018/19, the first surplus in excess of 1 per cent of GDP we have forecast for a man-date year".
"However our forecast does not show the government on course to achieve thesupplementary targetwe forecast that debt will rise by 1.7 per cent of GDP in thetarget year".
% of GDP 2012/13
(ouurn)
2013/14 2014/15 2015/16 2016/17 2017/18 2018/19
Public sector net bor-
rowing (December
2013)
7.3 6.8 5.6 4.4 2.7 1.2 -0.1
Public sector net bor-rowing dierence
(against March 2013)
-0.5
-0.7
-0.9
-1.1
-1.0
-1.1
NA
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Tax policy decisionsThe Treasury unveiled a new set of tax avoidance measures, which Osborne said would raise 9bn over the next ve years. The
largest measure in the package was a crackdown on schemes that avoided employment taxes by disguising employed workers
as self-employed. On Tuesday, the department will publish dra clauses included in the Finance Bill 2014 and will set out the
measures out for consultaon, which will run unl February 4, 2014.
Commitments
From April 2014 some venture capital trust (VCT) investments will not qualify for new tax relief, and further
changes to VCT rules will be consulted on.
The government will introduce three new tax reliefs to encourage and promote indirect employee ownership.
The government will extend the capital gains tax uplift provisions that apply on the death of a vulnerable benefi-
ciary and extend the range of trusts that qualify for special income tax, capital gains tax and inheritance tax (IHT)
treatment.
During 2015-16, HMRC will provide an online service for inheritance tax, reducing administrative burdens for
customers and agents.
The government will be taking further action to tackle tax avoidance and evasion with the aim of raising more
than 6.8bn of new revenue over the forecast period.
HMRC will launch a project in early 2014 to ensure it is ready to exploit the data generated by the new automatic
exchange of information agreements as part of offshore evasion strategy.
The network of HMRC officers attached to British missions abroad to reduce the threat to the Exchequer from
smuggling, fraud and fiscal crime by international organised criminal groups will be expanded.
HMRCs capacity to disrupt the activities of organised criminal gangs operating in the road fuel market will be
strengthened.
The government will replace complex corporation tax rules on associated companies with a new, simpler test,completing the merger of the main and small profits rate of corporation tax recommended by the Office of TaxSimplification.
Government will introduce new powers requiring taxpayers to amend their tax returns in cases where a taxavoidance scheme they have used has been shown not to work in another partys litigation
There will be an expansion of private sector debt collection services for the collection of tax credit debt.
The government are to work with a private sector partner to carry out fraud and error checks.
HMRC will make use of fixed term appointment staff to collect debts that HMRC would otherwise be unable to
collect.
HMRCs capacity to strengthen assess the tax risks posed by large multinational companies will be increased.
The government will increase HMRCs compliance yield targets by 2.5bn to 23bn in 2013-14 and 0.6bn in each
of 2014-15 and 2015 16 to 24.1bn and 25.1bn respectively.
The government will continue work on proposals to release VAT registration data, announcing decisions in early
2014.
From April 2014, the government will introduce a new social investment tax relief.
The government will provide tax relief on investment in social impact bonds where the special purpose vehicle isstructured as a company limited by shares.
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In January 2014 the government will publish a roadmap for social investment.
Before the end of 2013 HMRC will publish a formal summary of responses on its consultation on the retail ex-port scheme.
The government will continue to develop a simpler national insurance contribution process for the self -employed
with a summary of responses and details on next steps to published in due course. The Office of Tax Simplification (OTS) will provide more detail shortly on measures to improve the competitive-
ness of UK tax administration
A further nine of the quick wins identified by the OTS in their interim report on employee benefits will be deliv-ered in January 2014, and a further ten by the end of the Parliament. Final recommendations will be consideredahead of the Budget 2014.
Consultations
A consultation on capital gains tax on future gains made by nonresidents disposing of UK residential property
will be published in early 2014, with a tax to be introduced from April 2015.
At Budget 2014 HMRC will consult on a range of enhanced sanctions to penalise those who hide their money
offshore and enhance deterrence.
Following consultation, new measures to reduce the illicit trade in alcohol products will be introduced in the Fi-
nance Bill 2015.
There will be a consultation on the next steps to make aggregated and anonymised HMRC data available for wid-
er public benefit. Draft legislation for further consultation will be published in early 2014.
Draft amendments to regulations which will clarify the circumstances in which HMRC will allow alternative op-tions for VAT registered businesses that are not able to file VAT returns online, will be published for consulta-tion shortly.
Finance Bill 2014
The following measures are among those set to be contained within the Finance Bill 2014 as confirmed by the government in
the Autumn Statement document:
The Bill will contain provisions to extend to all European Economic Area companies the income tax relief for
interest paid on loans to invest in close companies and employee-controlled companies.
The government will reduce the final period exemption for capital gains tax (CGT) private residence relief from
36 months to 18 months from April 2014 via the Finance Bill 2014.
The associated companies rules of corporation tax will be replaced with simpler rules based on 51 per cent
group membership in April 2015 in the Finance Bill 2014.
The tax avoidance scheme, Total Return Swaps, will be closed down with immediate effect in the Finance Bill2014.
Changes will be made to simplify the business premises renovation allowance to make it more certain in its appli-
cation and reduce the risk in exploitation with effect from April 2014 in the Finance Bill 2014.
Changes to the grouping rules and regulation-making powers of the world wide debt cap provisions will be made
with immediate effect from December 5 2013 in the Finance Bill 2014
Two tax loopholes will be closed with immediate effect from December 5 2013 to reinforce the UKs double
taxation relief policy that relief for foreign tax should only be given where income has been doubly taxed, once in
the UK and once in a foreign territory in the Finance Bill 2014.
Legislation will be introduced to enhance existing anti-avoidance provisions of corporate debate and derivative
contracts in the Finance Bill 2014 and Finance Bill 2015.
With immediate effect changes will be made to the controlled foreign companies rule on profit sharing to address
the transfer offshore of profits from existing intra-group lending in the Finance Bill 2014.
The amount deductible for intra-group leasing payments for large offshore oil and gas assets (bareboat charters)
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Business and Economy
In a statement that included the biggest increase to ocial growth forecasts for over twelve years, the Chancellor announced
the widely trailed cap to business rate increases would be set at two per cent next year. He also introduced other discount rate
measures in an eort to boost rms and High Streets, whilst employer naonal insurance contribuons are to be scrapped on
1.5 million jobs for young people.
will be capped and a new ring fence introduced to protect resulting revenue in the Finance Bill 2014.
Having published the list of banks that have unconditionally adopted the strengthened Code of Practice on Taxa-
tion for Banks the Finance Bill 2014 will provide for HMRC to publish an annual report from 2015 naming the
banks that have and have not adopted the code and also name any bank that in MHRCs opinion is not complying
with the code.
Proposals from the partnership review, announced at the Budget 2013, to counter the use of limited liability part-
nerships to disguise employment relationship and the tax-motivated allocation of business profits to corporate
partners will be taken forward in the Finance Bill 2014 with an increase in the expected yield from the measure
from 3.27bn from 2013-14 to 2018-19.
Legislation will be drawn up to prevent a small number of high-earning, non-domiciled individuals from avoiding
tax through the artificial division of the duties of employment between the UK and overseas in the Finance Bill
2014. From April 2014 UK tax will be levied on the full employment income where a comparable level of tax is
not payable overseas on the overseas contract.
Legislation will be introduced to amend the definition of a charity for tax purposes in the Finance Bill 2014.
Legislation will be introduced on company tax to ensure individuals make payments for private use of a company
car in the relevant tax year and to ensure where an employer leases a car to an employee, the benefit is taxed as
a care benefit rather than employment earnings in the Finance Bill 2014. The government will introduce objective criteria for identifying high-risk promoters in marketed avoidance
schemes and a higher standard of reasonable excuse and reasonable care that will then apply to them in the Fi-
nance Bill 2014.
The cash advantage from sitting and waiting during a tax avoidance dispute will be removed by issuing new pay
now notices to taxpayers in the Finance Bill 2014, and scope for widening the criteria will be consulted on.
Other legislation
The government will legislate to simplify filing and payment dates for inheritance tax and trusts relevant property trust charges.
The government will amend legislation to ensure regulations can be made to set out the tax treatment of Solvency 2 compliantcapital instruments in advance of agreement to Solvency 2.
Stakeholder Summary
British Retail Consortium director general Helen Dickinsonsaid: The Chancellor has recognised that businesses aresuffering and is right to listen to retailers' concerns on business rates. The BRC has campaigned for a two per cent cap, and re-
form of the business rates system and it is extremely welcome to hear it announced.British Chambers of Commerce director general John Longworthnoted: The Chancellor has finally acted on business
rates bills after years of relentless increases that sucked the life out of businesses in all parts of the UK.
Association of Convenience Storeschief executive James Lowmansaid: The proposed cut in business rates is fantas-tic news; helping the vast majority of convenience store operatorsWe also support the cap on rates at 2 per cent which we
have advocated for a number of years.
British Beer and Pub Association chief executive BrigidSimmondswelcomed the small business rate relief extension
as it shows real support from the government for pubs, and that BBPA calls are being heeded.
Money Advice Trust chief executive Joanna Elsonwelcomed the Chancellors cap on business rate rises but said even atwo per cent rise would push more small and medium enterprises into arrears.
Autumn Statement Insight and Stakeholder Commentary
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Michael Izza, chief executive of ICAEW,said: This Autumn Statement will be good news for the UKs smallest business-
esshopkeepers and entrepreneurs across the country whose growth is critical to long term economic prosperity."
ADS chief executive Paul Everittapproved of the package of measures to support business, including 50bn for exportfinance, prioritising higher level apprenticeships and engineering graduates and capping business rates as this would provide
much needed support for high-tech, export-led growth.
Katerina Rdiger, head of skills and policy campaignsat CIPDnoted: Waiving employers national insurance contribu-tions for job seekers under the age of 21 needs to be done carefullyto avoid putting other age groups at a disadvantage in
the labour market.
Charities Aid Foundation chief executive John Lowsaid: "It is vital to ensure that charities enjoy public trust. We arecommitted to ensuring that generous tax relief on donations goes to legitimate good causes and is not siphoned off into tax
avoidance schemes".
Graeme Leach, chief economist at the Institute of Directorsapproved of the Chancellor's statement saying, "theChancellor's main purpose is to help secure economic recovery. Reductions in the National Insurance 'jobs tax' and business
rates will help boost business confidence, increase investment and lead to higher employment".
Alexander Jackman, head of policy at the Forum of Private Business ,said: "There are some positive measures in to-day's speech to help reduce the costs of doing business. With fuel duty frozen, 1,000 rebate on business rates and a subsidyon employing young people, there are measures worth thousands to small businesses. Within a time of constrained budgets, it'sgood to see the Chancellor has listened to the concerns of small businesses around rising costs.
Commitments
UK Trade and Investment (UKTI) are to be given greater financial independence and recruitment flexibility to
back British business overseas and compete for inward investment.
The government will establish British Business Centres to provide in-market services to SMEs in key emerging
markets and increase UKTI coverage in China and India.
The UK Export Finances maximum commitment limit will be doubled to 50bn.
The scope of the existing direct lending and working capital schemes will be broadened in order to help more
companies.
The number of export finance advisers will be doubled.
Additional funding of 25m will be provided to support employee ownership.
Funding for employee ownership will be used to fund a relief from capital gains tax on disposals of shares that
resulted in a controlling interest in a company being held by a trust used as an indirect employee ownership
structure.
Funding for employee ownership will be used to provide an annual exemption from income tax on bonuses or
equivalent payments up to an amount of 3,600 paid to employees of companies that are indirectly employee
owned.
The Save As Your Earn savings contribution limit will be doubled from 250 to 500.
The budget for the new Competition and Markets Authority (CMA) will be increased by 12m in 2014-15.
A new working group to revise the model gift aid declaration to make it easier to understand and increase take
up will be established.
As part of the UK insurance growth action plan, insurers are committed to working alongside partners in order
to deliver at least 25bn of investment in UK infrastructure over the next five years.
8bn will be removed from the Contingent Capital Facility for RBS, one year earlier than previously planned.
Autumn Statement Insight and Stakeholder Commentary
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The government will publish Small Business: GREAT Ambition in December 2013 to outline its offerto small busi-nesses.
The government will use unspent funding from the Business Finance Partnership to provide 250m for the BritishBusiness Banks new schemes to invest in late stage venture capital funds, to support the provision of lease andasset finance, and to launch a programme of wholesale guarantees for loans to small and medium-sized enterprises
(SMEs).
An additional 160m will be provided for Start Up Loans to 2018-19.
The New Enterprise Allowance scheme, which helps unemployed people to set up their own business, will be
extended to March 2016.
Legislation
Via the National Insurance Contributions Bill currently before Parliament the government will abolish employer
NICs for those under the age of 21 from April 2015.
The government will introduce legislation for the full rate of the bank levy to be set at 0.156 per cent from Janu-
ary 1 2014.
From April 2014 the government will remove the stamp duty and Stamp Duty Reserve Tax (SDRT) charge on
purchases of shares in ETFs that would currently apply if an ETF were domiciled in the UK.
The government is considering whether to increase the number of retail bonds eligible for stocks and shares ISAs
by reducing the requirement that such securities must have a remaining maturity above five years.
Enabling secondary legislation will be brought forward in early in 2014, allowing the Financial Conduct Authority
(FCA) to introduce an element of the Transparency Directive in advance of the November 2015 deadline for im-
plementation. This would remove the requirement for listed companies to publish quarterly reports.
The government will legislate to allow business rates bills to be spread over 12 months rather than 10 months,
with effect from April 1, 2014.
The government will introduce legislation to limit the protected deposit exclusion to amounts insured under adeposit protection scheme.
Legislation will be introduced to treat all derivative contracts as short-term.
The government will legislation to restrict relief for a banks high quality liquid assets to the rate applicable to longterm liabilities.
Legislation will align the bank levy definition of Tier One capital with the new Capital Requirements Directivefrom January 2014.
The government will legislate to exclude liabilities in respect of collateral that has been passed on to a centralcounterparty from January 2014.
The government will widen legislation-making powers within the bank levy from Royal Assent to ensure it can bekept in line with regulation.
Existing legislation will be amended to prevent employment intermediaries being used to avoid employment taxesby disguising employment as self-employment.
Consultations
The government will consult further on ways to reform the tax treatment of trusts established to safeguard prop-
erty for the benefit of vulnerable people.
The government will publish a discussion paper in spring 2014 setting out the advantages and disadvantages ofdifferent options for longer-term reforms to business rates administration.
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The government will consult on how best to allow intermediaries to take a greater role in operating gift aid inorder to reduce the number of instances where a new gift aid declaration is given.
The government will hold discussions on the longer-term administrative reform of business rates post-2017.
There will be a consultation on strengthening existing legislation to ensure the correct amount of tax and nation-al insurance contributions are paid where the worker is, in effect, employed with effect from April 2014.
Proposals to require banks to share information on their SME customers with other lenders, through Credit Ref-erence Agencies, will be consulted upon.
A study into economic regulators undertaken by the government will report in spring 2014.
An initial consultation will be published to explore how a regime to allow loan origination by investment fundsmight be introduced in the UK.
A discussion paper on enhancing equity financing in the UK will be published including options to improve access
to public equity markets for UK businesses and retail investors.
In 2014 the government will consult on how to provide greater transparency in the assessment of how rateablevalues.
The government will consult on proposals to require banks to share information on their SME customers with
other lenders through Credit Reference Agencies.
Commitments
Due to Office for Budget Responsibility (OBR) underspend forecasts of 7bn, the government announced that it will be
reducing the public sector reserve provision by 1.1bn in 2013-14.
There will be a reduction in unprotected departmental resource budgets of 1.1bn in 2014-15 and 1bn in 2015-16.
Total managed expenditure in 2018-19 will be held flat in real terms and capital investment will be prioritised so public
sector gross investment would grow in line with GDP.
The government will reduce the 'reserve provision' in 2013-14 "as a down payment on forecast underspends from de-
partments, reflecting continued improvements in spending control and financial management"
HMRC will be exempted from the reductions in 2014-15 and 2015-16 budgets to enable them to continue to focus on
tackling tax avoidance and evasion.
The sale of government assets is hoped to raise 20bn between 2014 and 2020.
The Charter for Budget Responsibility will be updated and presented to Parliament alongside the Autumn Statement
2014.
Review
From 2014 the government will trial a "pay bill control" in a small number of departments, designed to replace the one
per cent cap on pay awards.
An "open approach" will be launched to identify areas where private sector participation in government services could
be considered.
Autumn Statement Insight and Stakeholder Commentary
Public Finances and Departments
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Welfare and PensionsOverall welfare spending will face a new cap from next year, impacng on all benets apart from the state pension
and some benets for jobseekers which were excluded. The state pension will receive an inaonary rise of 2.95 a
week, but with the Chancellor accepng the possibility of an increase in the state pension age to 68 in the mid-
2030s and to 69 in the late 2040s. Stakeholder Summary
Frank Field MPsaid the Chancellors pension announcement was not fair due to lower life expectancy amongst the poor. He
suggested retirement age should be linked to national insurance contributions and the number of years in work.
Association of Teachers and Lecturers director of economic strategy Martin Freedman stated: The rise in pen-
sion age will have no effect on his friends in the City or his millionaire colleagues on the governments front bench. But millions
of hard-working teachers, teaching assistants, nurses and social workers in the public sector.
Public and Commercial Services union general secretary Mark Serwotka described the Chancellors economic plan
as austerity for austeritys sake and argued the state pension age increase would mean poorer people with lower than aver-
age life expectancy will pay for the pensions of the rich.
UNISON general secretary Dave Prentisnoted: Raising the state pension age is cruel and unnecessary. It may be ok for
the better off to work until they are 70 because they will have some years to enjoy their retirement. But for millions, they will
never see their pension because they will die before that age.
Citizens Advice chief executive Gillian Guyremarked: Many people entitled to help with sickness, disability or housing
costs lose out simply for seeking help the day after the arbitrary budget has run out. With working-age support set to rise by
just 1 per cent and pensions going up by 2.5 per cent, the proposed cap will hit people who are already set to lose out because
of reforms elsewhere.
Tim Thomas, head of employment and skills for the manufacturers organisation EEF ,approved of the pension agechanges announced in the Autumn Statement but remained reserved about the governments provision for prolonging employ-
ees working lives.
Commitments
Uprating will mean that in April 2014 the basic state pension will rise by 2.7 per centa cash rise of 2.95.
The government will introduce individual protection in 2014 allowing people a lifetime allowance maximum of
1.5m for their pension savings.
In October 2015 the government will introduce a new class of voluntary NICs to allow pensioners who reach
state pension age before 6 April 2016 an opportunity to top up their additional pension records.
The government will increase its activity on life certificates to ensure that state pension payments to pensioners
living abroad are being made correctly.
The standard minimum income guarantee in pension credit will rise by the same amount as the cash increase in
the basic state pension. The savings credit threshold will rise by 4.4 per cent.
The government will establish a framework for the welfare cap as part of the Charter for Budget Responsibility,which will be updated in 2014.
Those benefits and tax credits not being uprated by one per cent (as set out in Autumn Statement 2012) includ-ing disability benefits, carers benefits, premia, and the additional state pension will receive an inflationary in-crease of 2.7 per cent in April 2014.
The government will increase discretionary housing payments by 40m in both 2014-15 and 201516; the funding
of DHPs will be met from DWPs budget.
Autumn Statement Insight and Stakeholder Commentary
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Tax-free childcare will be introduced from autumn 2015 to provide 20 per cent of childcare costs up to 1,200
per for year for each child under 12.
15 hours per week of free childcare will be extended to 40 per cent of disadvantaged two year olds by Septem-
ber 2014.
The government will uprate the ISA, Junior ISA and Child Trust Fund annual subscription limits in line with CPI.
The government will increase activity to recover benefit debt owed to DWP, using debt collection agencies with
specialist skills in recovering difficult to collect debt and introduce measures to reduce fraud to deliver savings of
more than 2.3bn over the forecast period.
The government will conduct a data-matching exercise for the entire benefit caseload in April 2014 to identifyover-payments, and discrepancies will be passed to a fraud investigator.
From April 2014 a new package of targeted measures to help the long-term unemployed will be introduced.
Review
Changes to the state pension age will be considered as part of future reviews; the government is consideringwhether the increase in state pension age to 68 could come forward to the mid-2030s, and then it could increasefurther to 69 by the late 2040s.
Stakeholder Summary
Shaun Williams, Director of Corporate Affairs at Leonard Cheshire Disabilitysaid: Today is a missed opportunity.The Government could have grasped the crisis in social care and chosen to end inappropriate flying care visits. But they have
failed to do so.
Action
The Department of Health will be exempted from proposed reductions in departmental spending in 2014-15 and
2015-16.
Stakeholder Summary
David Thomson, director of Policy and Programmes at World Vision UKsaid; We commend the coalition for up-
holding its promise on 0.7%. When delivered, this will confirm the UKs status as a world leader in international development.
Clearly UK aid needs to go where it is needed most - to help the worlds poorest people living in the toughest places.
Commitments
The Official Development Assistance budget has been made exempt from proposed reductions in departmental spend-
ing in 2014-15 and 2015-16.
The government will reach its commitment to spend 0.7 per cent of Gross National Income on aid for the first time in
2013.
Autumn Statement Insight and Stakeholder Commentary
HealthThe Department of Health will see funding protecons remain in place though some have commented on the lack of acon by
the Chancellor around social care provision. The health sector will be paying close aenon to the Chancellors warning that
the next government will need to connue to take tough decisions on public sector pay and workforce beyond 2015 -16.
Internaonal Aairs and DefenceWhilst the Chancellor reiterated the governments support for the 0.7 per cent of GNI pledge he reminded MPs that
the government would not exceed that spend where possible. The Ministry of Defence received a cut of 900m,
aecng the military special reserve budget and not the operaonal budget.
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Energy and EnvironmentIn a new commitment for the energy sector, Osborne announced that a tax allowance will be introduced to encour-
age investment in shale gas, which will halve tax rates on early prots. The Chancellor reiterated his pledge that
going green didnt have to cost the earth
Stakeholder Summary
Friends of the Earth executive director Andy Atkins stated: "The quickest and most cost-effective way to tackle rising
energy bills, and end the scandal of thousands of people dying in heat-leaking homes, is to invest in a comprehensive insulation
programme. But the government has caved in to Big Six pressure and given energy efficiency the cold shoulder.
Citizens Advice chief executive Gillian Guythought the government was right to prioritise help for the fuel poor and in-
crease the help available, but said the government should go further and move costs for the warm home discount from bills to
taxation so that poorer households are not pushed into fuel poverty.
Terry Scuoler, Chief Executive of EEF, the manufacturers organisationnoted: Industry, especially energy intensive
users, will be dismayed that government has failed to address the genuine concerns surrounding the uncompetitive price of en-ergy for UK manufacturers.
Commitments
A new tax allowance will be introduced for onshore oil and gas (including shale gas) which will reduce the tax rate
on a portion of a companys profits from 62 per cent to 30 per cent. Companies will receive an allowance equal
to 75 per cent of their capital spend on these projects.
On offshore oil and gas fields, the government will set out plans in 2014 to make the most of the UKs offshore oil
and gas fields.
The government has committed to maintain the differential between the main rate of fuel duty and the rate for
road fuel gases such as Liquefied Natural Gas (LNG) and Compressed Natural Gas (CNG) for ten years.
The government is entering into an agreement with Hitachi and Horizon with the aim of agreeing an in-principle
guarantee to support the financing of a new nuclear power plant at Wylfa.
The government will provide 10m over two years to the Shetland Islands Council to support infrastructure de-
velopment, in the expectation the Scottish government will contribute a similar sum.
The government will provide over 600m funding for a 12 rebate on every domestic electricity bill for the next
two years.
The government will make a range of changes to the Energy Companies Obligation that will result in 30 to 35
off bills, on average, in 2014.
The government will provide an additional 90m of funding for public sector energy efficiency projects.
The government is considering options to bring private capital into the Green Investment Bank to enable it tooperate more freely in delivering its objectives.
The government will introduce a climate change agreement for the data centres sector by the end of 2013 andwill introduce a mixed use exemption from the climate change levy for solid fuels used in certain gasification pro-cesses.
Carbon Reduction Commitment allowance prices in 2014-15 will be priced at 15.60 per tonne of carbon dioxidein the forecast sale and 16.40 per tonne of carbon dioxide in the buy to comply sale.
The government will extend the Coastal Communities Fund to 2016-17.
Autumn Statement Insight and Stakeholder Commentary
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Legislation
The government will amend via secondary legislation the definition of contracts for difference in the corporation
tax derivative rules to include the investment contracts and contracts for difference introduced in the Energy
Bill.
From the date that the Finance Bill 2014 receives Royal Assent, the government will extend reinvestment relief
to prevent a chargeable gain being subject to a corporation tax charge where a company sells an asset in thecourse of exploration and appraisal activities and reinvests the proceeds in the UK or UK Continental Shelf(Finance Bill 2014).
The government will extend the scope of the substantial shareholding exemption to treat a company as havingheld a substantial shareholding in a subsidiary being disposed of for the 12 month period before the disposal,where that subsidiary is using assets for oil and gas exploration and appraisal that have been transferred fromother group companies (Finance Bill 2014).
Review
The government will review options to mitigate the impact of the profit transfer targeted anti-abuse rule on oiland gas exploration and appraisal and similar activity in other sectors.
Stakeholder Summary
Fiona Weir, chief executive of the single-parent charity Gingerbread said:The Chancellors warm words about aneconomy on the up will come as cold comfort to single parentsthree-quarters of whom say they are worse off than they
were a year ago.
Commenting on proposals to clarify the definition of charity to fight tax avoidance,John Low, chief executive of the Char-ities Aid Foundationremarked:"It is vital to ensure that charities enjoy public trust. We are committed to ensuring thatgenerous tax relief on donations goes to legitimate good causes and is not siphoned off into tax avoidance schemes.
Julia Unwin, chief executive of the Joseph Rowntree Foundation (JRF), observed:Few of the policies announcedtoday specifically target these families, who have faced a 25 per cent increase in the minimum cost of living since 2008.
Matthew Reed, chief executive of the Children's Society,said:by freezing the work allowance for Universal Creditover the next three years, the government is making it harder for families to make work pay.
Action for Children chief executive Dame Clare Tickell arguedfamilies are facing instead is a cap on welfare spending
without measures that recognise or compensate for the impact on children.
Commitments
Married couples and civil partners will be able to transfer 1,000 of their income tax personal allowance to their
spouse, effective from 2015-16, and the transferable amount will be uprated in proportion to the personal allow-
ance.
The Single Intelligence Account is excluded from the reductions in 2014-15 and 2015-16 budgets, "reflecting the
priority this government places on maintaining core counter terrorist capabilities".
The government will introduce a new tax relief for equity and certain debt investments in social enterprises with
Autumn Statement Insight and Stakeholder Commentary
Home Aairs and Jusce
The Autumn Statement was comparavely light in terms of new measures in the home aairs sector. The govern-
ment announced that married couples will be able to transfer 1,000 of their income tax personal allowance to their
spouse, eecve from 2015-16. Welcome news for social enterprises came in the form of new tax relief measures
from April 2014, whilst charies are set to benet from paral relief from stamp duty when purchasing property
jointly with a non-charity.
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effect from April 2014.
The government will publish a roadmap for social investment in January 2014.
HMRC will develop a new IT system to allow charities that want to register with the Charity Commission for
England and Wales to do so through a single online portal.
Legislation
The government will legislate to make it clear that partial relief from stamp duty is available where a charity pur-
chases property jointly with a non-charity.
Stakeholder Summary
Commenting on the measures announced in today's Autumn Statement, Grainia Long, chief executive of the Chartered
Institute of Housing,was "pleased" with the Chancellor had acknowledged the principle that councils should be allowed to
borrow more so they can build more homes which they had been calling for.
Commitments
The government will increase local authority Housing Revenue Account (HRA) borrowing limits by 150m in
2015-16 and 150m in 2016-17.
A 1bn six year investment programme will be introduced to unlock new large housing sites to support the deliv-
ery of 250,000 homes.
The government will extend the availability of the Private Rented Sector Guarantee Scheme until December 2016.
The government will work with industry, local authorities and other interested parties to develop a pilot for pass-
ing a share of the benefits of development directly to individual households.
The government will fund up to 1,000 for future home buyers to spend on important energy-saving measures.
The government will introduce a 90m scheme to support private landlords in improving the energy efficiency of
their properties.
The government will freeze planning application fees for the Nationally Significant Infrastructure Planning (NSIP)
regime for the remainder of this Parliament.
In early 2014 the government will establish a specialist planning court with set deadlines to accelerate the handling
of cases.
The government will announce details of the Greater Cambridge Gain Share payment by results mechanism,
whereby the local area will be able to keep a larger proportion of the proceeds of economic growth generated in
and around the city of Cambridge, alongside Budget 2014.
Real Estate Investment Trusts (REITs) will be included within the definition of institutional investor from April 1
2014.
Legislation
Legislation will be introduced to treat planning conditions as approved where a planning authority has failed todischarge a planning condition on time.
Legislation will be introduced to ensure that any resolution for stamp duty would remain effective until replaced
Housing and PlanningAn announcement of 1bn worth of loans to unblock large housing developments will be welcomed, with the hope
of an addional 250,000 new homes. In another move to increase house building by local authories the Housing
Revenue Account borrowing limit will be increased by 300m which will be welcomed by stakeholders.
Autumn Statement Insight and Stakeholder Commentary
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by an equivalent provision in the Finance Act.
Review
The government will launch a review into the role local authorities' play in supporting overall housing supply.
The government intend to support options for kick-starting the regeneration of the UKs worst housing estates
through repayable loans.
Consultation
The government will consult on options for an introduction of a 'Right to Move' scheme for working households
in social housing in the spring of 2014.
A consultation on measures to improve plan making, including a statutory requirement for a Local Plan, will be
introduced.
The government will legislate to treat planning conditions as approved where a planning authority has failed to
discharge a condition on time, and ensure authorities justify conditions that must be discharged before building
can start.
The government will consult on easing change of use, and liberalising planning restrictions on mezzanine floors in
retail premises to support high streets.
A consultation will be issued on legislative measures to strengthen the requirement for planning authorities to
justify any conditions set.
The government will consult on proposals to reduce the number of applications where unnecessary statutory
consultations occur and pilot a single point of contact for cases where conflicting advice is provided by key statu-
tory consultees.
Measures to improve the incentive of the New Homes Bonus, by withholding payments where local authorities
have objected to development, and planning approvals are granted on appeal will be consulted on.
A consultation will be held on increasing the threshold for designation under the Growth and Infrastructure Act
from 30 per cent to 40 per cent of decisions made on time.
The government will consult on a new 10 unit threshold for section 106 affordable housing contributions to re-
duce costs for smaller builders.
A consultation on local authority tenants right to move for employment related reasons will be launched.
The National Networks National Policy Statement has been published for consultation.
Stakeholder Summary
Society of Local Authority Chief Executives and Senior Managers chair Joanna Killianargued a long-term plan for
public service reform was required in light of significant cuts to local government finances.
Cllr Sharon Taylor, Chair of the Local Government Association's finance panel called the business rates announce-
ment a positive step, but said councils have yet to see the payment to cover the previous extension and would need strongassurances that they will receive both payments soon or else risk to vital services would become a problem.
Autumn Statement Insight and Stakeholder Commentary
Local GovernmentIt was conrmed the business rate relief scheme would be extended for another year and the inaonary increases
would be capped at two per cent, in an announcement that will please business groups. Local Government budgets
would also be spared to ensure council tax remains frozen in a sop to the cost of living debate.
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Commitments
Local government will be excluded from the reduction in departmental spending to ensure local authorities
freeze council tax in 2014-15 and 2015-16.
A number of measures were announced to give Local Authorities more flexibility on improving public services.
Measures included allowing greater flexibility in spending receipts from asset sales on one-off costs of service
reforms, welcoming service reform proposals from LEPs, ensuring pooled funding was "an enduring part of the
framework for the health and social care system beyond 2015-16" and giving local public services the same "long-
term indicative budgets as departments from the next Spending Review".
A programme to increase the level of innovation in children's services will be launched, with details provided
ahead of the budget.
A benchmarking tool will be introduced to enable local authorities to compare their costs and outcomes in chil-
dren's services.
The government will allow local authorities to sell assets, and the flexibility to spend 200m of receipts from newasset sales on the one-off costs of reforming services.
The government will be capping the retail price index (RPI) increase in business rates to two per cent in 2014-15.
The doubling of the small business rate relief (SBRR) will be extended to April 2015. In addition, the government
will amend the criteria for SBBR to enable businesses to keep it for an additional year in cases when they take on
an additional property that would currently cause them to lose the relief.
The Chancellor announced a discount of up to 1,000 against business rates bills for retail premises with a ratea-ble value of up to 50,000 in 2014-15 and 2015-16.
A temporary reoccupation relief will be introduced, granting a 50 per cent discount from business rates for newoccupants of previously empty retail premises for 18 months.
The backlog in appeals from ratepayers will be addressed, with 95 per cent of outstanding cases cleared by July2015.
The government will provide a 30m contribution to support the construction of a new Garden Bridge across
the River Thames in London.
Stakeholder Summary
Freight Transport Association chief executive Leo de Pencier noted the Chancellors confirmation that fuel duty will
be frozen next yearsaving industry around 186 million - is a positive step but is not enough to deliver significant benefits to
the economy.
Citizens Advice chief executive Gillian Guyagreed with the Chancellors announcement to cancel the rise in fuel dutyand limiting rail fare rises. Although she thought the Chancellor had missed an opportunity to help people who work unsocia-
ble hours or have part-time jobs and should introduce a new season ticket to save money on these journeys.
Campaign for Better Transport chief executive Stephen Josephreacted positively to the Chancellor's decision to can-cel the above inflation rise in regulated fares for 2014. However, he warned that ticket prices will still rise three times faster
Autumn Statement Insight and Stakeholder Commentary
TransportIt was a relavely quiet Autumn Statement for the transport sector, however it was conrmed that fuel duty will
remain frozen with the planned two pence per litre price rise abandoned for 2014. Beyond that, tax discs will be
replaced with an electronic system and regulated rail fare increases will be in line with inaon rather than the
planned one per cent above RPI.
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than wages and above inflation rises are still on the cards for 2015 and beyond. Even for long distance commuters, the saving
will amount to less than 1 per week.
Commitments
Fuel duty will be frozen for the remainder of the parliament, saving the average motorist 11 every time they fill
their tank by 2015-16.
The government intends to submit its application for EU approval for the extension of the current rural fuel re-bate scheme to remote areas on the UK mainland in January 2014.
The government will limit the average increase in regulated rail fares to RPI for a year from January 2014.
Surface access to Gatwick Airport will be improved with 50m to redevelop the railway station, acceleration of
the Network Rail study into improvements to the Brighton Mainline, a pilot of smart ticketing on Gatwick to Lon-
don rail links, and scoping on the feasibility of improving road access to Gatwick on the M23, M25 and local roads.
The government will take forward two feasibility studies into transport links to airports, including a study into
southern rail access to Heathrow, and widening the scope of the current East Anglian Mainline study to include
exploring options for improving access to Stansted.
A prize fund of 10m will be provided for a town or city to develop as a test site for consumer testing of driver-
less cars.
The government will invest 5m during 2014-15 in a large scale electric vehicle-readiness programme for public
sector fleets.
A new webpage providing a single source of information to help individuals and households manage the cost of
transport will be created.
8.8m has been approved under the UK Guarantee scheme to help provide finance for the installation of energy
saving lighting equipment across a portfolio of car parks managed and operated by National Car Parks Limited
(NCP).
The government will provide funding to support improvements to the A50 around Uttoxeter starting in 2015-16.
Legislation
From October 1 2014 motorists will be able to pay their vehicle excise duty (VED) by direct debit annually, bian-nually or monthly. A five per cent surcharge will apply to biannual and monthly payments. A paper tax disc will nolonger be issued and required to be displayed on a vehicle windscreen (Finance Bill 2014).
Review
At Budget 2018, the government will review the impact of fuel duty differentials incentives on vehicle uptake andthe public finances.
There will be a review, reporting by the end of 2014, to ensure the legislative and regulatory framework supports
the worlds car companies to develop and test driverless cars in the UK.
Stakeholder Summary
Ukie chief executiveDr Jo Twistwelcomed the announcement on film tax relief, but called on the government to continue
doing everything possible to push through the introduction of games production tax credits, as announced in the 2012 Budget.
Culture, Media and SportThe Department for Culture, Media and Sport is set to benet from the success of the current lm tax relief scheme,
as Osborne announced plans to increase the rate of relief and extend it to regional theatre.
Autumn Statement Insight and Stakeholder Commentary
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Commitments
The government will make relief available at 25 per cent on the first 20m of qualifying production expenditure and 20
per cent thereafter, for small and large budget films from April 2014.
State aid clearance will be sought to increase the rate of relief to 25 per cent for all qualifying expenditure when re-
notifying film tax relief in 2015. There will be also be a reduction in the minimum UK expenditure requirement from 25
per cent to 10 per cent.
The government will modernise the reliefs cultural test to align it with incentives in other member states and support
visual effects and wider film production.
The government has committed to the GREAT campaign in the longer term with a 50 per cent increase in funding in
2014-15 and 2015-16.
The government will invest 5m in the National Film and Television Schools Digital Village.
Local authorities will be given access to cheaper borrowing at the Public Works Loan Board (PWLB) project rate; the
government will allocate nearly 800m on a competitive basis and enable LEPs in partnership with local authorities to
submit bids to borrow at the PWLB. The government will confirm 4m in 2015-16 to continue its support to the Irish Language Broadcast Fund and Ul-
sterScots Broadcast Fund in Northern Ireland.
Sport England will launch a 18m Primary School Sports Facilities Fund from 2014 to improve sports facilities in primary
schools.
The government will open a 10m competitive fund to market test delivery of superfast broadband services to the most
difficult to reach areas of the UK.
Legislation
The government will amend legislation underpinning the cultural gifts scheme to ensure that estate duty is brought into
charge where appropriate.
Consultation
In early 2014, there will be a consultation on a limited tax relief for commercial theatre productions and a targeted tax
relief for theatres investing in new works or touring productions to regional theatres.
Stakeholder Summary
The National Union of Teachersreacted negatively to the Autumn Statement for failing to address what their generalsecretary Christine Blowerdescribed as an unfolding school places crisis which could see 1 in 4 children without a school
place by 2016.
Federation of Small Businesses chairman John Allanapproved of the youth employment tax cut, but said it should becoupled with improving the education system to ensure all young people hold the functional and soft skills necessary to suc-
Autumn Statement Insight and Stakeholder Commentary
Schools, Higher Educaon and Science
Lead by the deputy prime minister, the extension of free school meals to all state schools pupils in recepon, year
one and year two has been conrmed by the Chancellor, with accompanying capital funding for schools to extend
their catering facilies. The Chancellor has also announced that 30,000 more student places will be available in uni-
versies from next year.
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ceed in todays tough job market.
Russell Hobby, general secretary of the National Association of Head Teacheralthoughwelcoming the announce-
ment on free school meals, expressed concern that funding would come at the cost of cuts elsewhere in the school system.
Peter Finegold, head of education at IMECHE,said We welcome todays news that Government is to provide extra
funding for STEM students of 50 million per academic year from 2015-16, and 20,000 higher apprenticeships over the next two
years.
Commitments
The schools budget will be protected against reductions in departmental spending in 2014-15 and 2015-16.
Free, healthy school meals will be provided to pupils in reception, years one and two starting from September
2014; capital funding will be made available to increase schools capacity in terms of catering facilities.
The government will provide 150m of funding to continue the school sport premium into the academic year
2015-16.
For 2014-15, the government will increase the cap for HEFCEfunded institutions by 30,000.
There will be a removal of the cap on student numbers at publicly-funded higher education institutions in England
by 201516.
Financial advisers have been appointed to prepare for the sale of the pre-Browne Income Contingent Repayment
student loan book, expected to generate approximately 12bn in revenue.
Extra funding for STEM students of 50m per academic year from 2015-16 will be provided.
The government will retain number controls at alternative providers in 2014-15 on the basis of their 2012 13
levels. From 2015-16, it will allow student numbers at alternative providers to be freed in a similar manner as for
HEFCE-funded provision.
The Department for Education will shortly be announcing the outcome of their assessment of the latest set of
University Technical Colleges proposals.
An Emerging Powers Research Fund of 75m per year will be created to improve the research and innovation
capacity of emerging powers.
The government will produce a Science and Innovation Strategy for Autumn Statement 2014including a road
map of how the governments long-term commitment on science capital announced at Spending Round 2013 will
deliver the research and innovation infrastructure.
A network of Quantum Technology Centres will be developed with the government providing 270m over five
years.
The government will introduce a Global Collaborative Space Programme with a fund of 80m for five years as an
international pillar to the UKs national space programme
The Higgs Centre at Edinburgh University will be established in honour of British Nobel laureate Peter Higgs.
Autumn Statement Insight and Stakeholder Commentary
http://www.naht.org.uk/welcome/news-and-media/key-topics/naht-comment-on-chancellors-autumn-statement/http:/www.naht.org.uk/welcome/news-and-media/key-topics/naht-comment-on-chancellors-autumn-statement/http://www.naht.org.uk/welcome/news-and-media/key-topics/naht-comment-on-chancellors-autumn-statement/http:/www.naht.org.uk/welcome/news-and-media/key-topics/naht-comment-on-chancellors-autumn-statement/http://www.imeche.org/news/institution/press-release/institution-responds-to-chancellor's-autumn-statementhttp://www.imeche.org/news/institution/press-release/institution-responds-to-chancellor's-autumn-statementhttp://www.imeche.org/news/institution/press-release/institution-responds-to-chancellor's-autumn-statementhttp://www.naht.org.uk/welcome/news-and-media/key-topics/naht-comment-on-chancellors-autumn-statement/http:/www.naht.org.uk/welcome/news-and-media/key-topics/naht-comment-on-chancellors-autumn-statement/8/13/2019 Autumn Statement 2013 Briefing
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Stakeholder Commentary
Lizzie Crowley, head of youth unemployment programmes at The Work Foundationwelcomed the investment inJobCentre Plus to help 16-17 year olds into apprenticeships or traineeships as it would help to plug an important gap in thesupport available for young people. However, she called on the government to tackle failures in careers advice and guidance,rather than scrapping employer national insurance contributions for under-21.
Chief executive of Universities UK Nicola Dandridgewelcomed the governments announcement on student numbers
as employers tell us that they will need more people with graduate-level skills in the coming years.
Commitments
Employers will be enabled to receive funding for the training costs of apprentices directly through an HMRC-led
system and ensuring that employers contribute.
40m will be provided to deliver an additional 20,000 higher apprenticeship starts over the next two academic
years.
The government will introduce a compulsory employer cash contribution for a significant proportion of the ex-
ternal training costs of an apprentice (excluding English and maths), provide an additional contribution to the
costs of training for 16-17 year olds and will separately consider the approach for 18 year olds, introduce a num-
ber of caps on the maximum government contribution per apprentice and withhold a proportion of the funding
for a payment by results approach.
The government has committed an additional 160m to Start Up Loans over six years.
Investment of around 10m a year in Jobcentre Plus support for 16 and 17 year olds will be delivered in partner-
ship with local authorities.
The government will exempt those undertaking a traineeship from the rule which prevented Jobseekers Allow-
ance (JSA) claimants from doing more than 16 hours of study per week.
A new scheme of support for young JSA claimants will be piloted. Under this, after six months on JSA, claimants
will be required to participate in a work experience placement, a traineeship or community work placement and
claimants without level 2 qualifications in English and maths will be required to do up to 16 hours per week of
training alongside job search or risk losing their benefits.
Review
A model will be developed which uses HMRC systems to route apprenticeship funding direct to employers, the
details of which will be consulted on in early 2014 and on the option of an alternative funding route for the small-
est businesses.
Further Educaon and SkillsSkills and training to reduce youth unemployed appeared to be a government priority, and it was announced that
20,000 addional higher apprenceships will be available over the next two years.
The Chancellor pledged an investment of 10m per year in Jobcentre Plus support for 16 and 17 year olds, and the
rolling out of a scheme requiring young people who have been on Jobseekers Allowance for more than six months
to parcipate in a work experience placement.
http://www.theworkfoundation.com/Media/Press-Releases/1507/Chancellor-misses-opportunity-to-tackle-youth-unemploymenthttp://www.theworkfoundation.com/Media/Press-Releases/1507/Chancellor-misses-opportunity-to-tackle-youth-unemploymenthttp://www.theworkfoundation.com/Media/Press-Releases/1507/Chancellor-misses-opportunity-to-tackle-youth-unemploymenthttp://www.theworkfoundation.com/Media/Press-Releases/1507/Chancellor-misses-opportunity-to-tackle-youth-unemploymenthttp://www.universitiesuk.ac.uk/highereducation/Pages/AutumnStatement2013.aspx#.UqCNtXd4bKEhttp://www.universitiesuk.ac.uk/highereducation/Pages/AutumnStatement2013.aspx#.UqCNtXd4bKEhttp://www.universitiesuk.ac.uk/highereducation/Pages/AutumnStatement2013.aspx#.UqCNtXd4bKEhttp://www.theworkfoundation.com/Media/Press-Releases/1507/Chancellor-misses-opportunity-to-tackle-youth-unemploymentTop Related