Autumn Statement 2014 predictions: What to watch out for

Anti-austerity protesters wearing George Osborne masks chant slogans outside 10 Downing Street (Source: Getty)
WHO: GEORGE OSBORNE
WHEN: 12.30 TODAY
WHERE: HOUSE OF COMMONS

WHAT WE ALREADY KNOW

£2bn cash injection for NHS
The NHS will receive an extra £2bn in funding, £1.3bn from departmental savings and £700k from the existing health budget. There will also be a £15m dementia fund
£2.3bn for flood defences
Extra money for flood defences around the UK has been found. Ministers also detailed plans to start talks on the UK’s first lagoon power project
£900m small business boost
£500m of new lending capital and £400m for the British business bank to be unveiled
New garden city at Bicester
13,000 homes will be built in the town to create a second new garden city project
£15bn road revolution plan
Senior government ministers spent some time on the road earlier this week, unveiling routes set to be boosted by a £15bn infrastructure fund. A road tunnel at Stonehenge was also announced, together with plans to improve rail routes around the UK
Funding for lending scheme
A one-year extension to the funding for lending scheme has been announced
Homebuilding scheme
A government agency could plan, build and sell thousands of homes on public sector land, in a bid to tackle the housing shortage. This scheme will be in the Autumn Statement

WHAT MIGHT HAPPEN 

Pension tax-relief change
Pension reform was at the heart of the Budget earlier this year, and some say the chancellor will steer clear this time round. Others claim Osborne could cut pension tax relief from 40 to 30 per cent
Inheritance tax giveaway
The nil band for inheritance tax has stood at the same rate since 2009, and with property prices in the capital increasing rapidly, Osborne could look to win voters over by increasing it to £1m from £325k. Ministers could also look to shut down some of the relief schemes around this tax
Clampdown on overseas property owners
Osborne is expected to set out more detail on plans to make non-domiciled home-owners in the UK pay capital gains tax on property disposals. This could lead to a wider overhaul of property taxation, including a rethink about council tax boundaries to counter Labour and Lib Dem plans for a mansion tax
Business rate reforms
The chancellor is being urged to do something to help high street shops feeling the pressure of business rates. He could choose to take action, although it’s not clear quite how
Stamp duty shelf changes
One policy that Osborne could pull out of the bag today is stamp duty reform to remove the shelves that currently exist between bands. Taxing property differently between bands could prevent bunching below the threshold

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