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Alexandra Jones and Naomi Clayton will be updating live on what the 2013 Autumn Statement means for cities from 11.15am
11.10 The Chancellor will deliver his Autumn Statement in about 5 minutes.
Our letter to George Osborne emphasises the need to Think Cities in the Autumn Statement. We want to see:
1) A new City Centre Growth Fund, using additional borrowing headroom
2) A Help-to-Supply scheme to stimulate a significant increase in house building
3) An expansion of Urban Development Funds to draw on European funds more effectively and drive greater levels of infrastructure investment
Colleagues will be live-tweeting through #AS2013 too – you can follow Andrew Carter, Deputy Chief Executive, at @AndrewCities
11.20 George Osborne – “Britain’s economic plan is working. But the job is not done”. Here are the OBR figures:
– OBR forecasts fall in GDP from peak to trough between 2008 and 2009 was 7.2% (revised up from 6.3%).
– Forecast revised up for 2013 to 1.4% and 2.8% for 2014
– There was no double dip recession.
Growth also revised up for next 4 years (2.2, 2.6, 2.7, 2.7). Forecasts for the recovery period are just above trend.
– OBR forecast 400k more jobs. Jobs growing faster in Selby and Tyneside than in London.
– Unemployment is also lower than in 2010. Forecast to fall from 7.6% this year to 7% in 2015, falling to 5.6% by 2018.
Our latest labour market figures still show huge variation across the country. https://www.centreforcities.org/research/2013/11/13/november-labour-market-update/
Infrastructure: “Spending more on capital this decade than ever in the last government”. Prepared to spend more on Northern Hub and HS2 to ensure UK remains globally competitive. More detail in National Infrastructure Plan 2013 here https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/263159/national_infrastructure_plan_2013.pdf
Housing: “if we want more people to own homes we have to build more homes”. Residential construction growing at fastest rate for a decade.
Housing: £1bn loan to unlock housing in Leeds, Manchester and other parts of the country.
Social housing: working people in social housing given priority to move for a job.
Education: continue to support academies, free schools and free school meals.
Skills: funds to JobCentrePlus to improve Maths and English and 18-21 yr olds will be required to take courses.
Business: cap on the inflation increase in business rates for all premises at 2% from next April.
Help the High Street: initial new re-occupation relief, discount on business rates worth £1,000 to every retail premises with rateable value up to £50,000.
To put Osborne’s earlier claim in context, here are the long-term house building trends: http://centreforcities.customer.meteoric.net/housingpolicy.html
Higher education: 30k new student places next year, from 2015 the cap on student numbers will be abolished.
Apprenticeships: 20k more higher apprenticeships over next two years.
Youth unemployment: abolish the jobs tax for under 21s and a cut in NI contributions for over a 1.5m jobs for young people.
Balls: “House building lowest since the 1920s. Help to Buy Scheme can only work if the Govt invests in supply and affordable homes”
See our blog on Help to Buy here: https://www.centreforcities.org/blog/2013/05/28/we-should-be-helping-to-build,-not-helping-to-buy/
Check back for Alexandra Jones’ reflections on the AS2013 later today
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