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IFS: Autumn Statement means 'colossal cuts'

Yesterday's Autumn Statement means the UK is set for "cuts on a colossal scale", according to the Institute for Fiscal Studies.

George Osborne earlier condemned "hyperbolic" coverage of his spending plans.

Public spending is likely to fall to its lowest level since the 1930s during the next Parliament, according to new analysis from the Office for Budget Responsibility.

However, Osborne said warnings over the cuts were "nonsense" - particularly targeting the BBC for criticism over its coverage.

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Air Passenger Duty to be scrapped for all children

Air Passenger Duty will be scrapped for all children by 2016, Chancellor George Osborne has announced.

George Osborne hopes his announcement will reduce the cost of flights for families. Credit: PA Wire

"We’re going to require airlines to list the charges separately from taxes on tickets, but I also want to reduce the cost of those tickets for families directly.

"From the 1st May next year, Air Passenger Duty for children under 12 will be abolished. From the following year, we’ll get rid of APD for children under 16 altogether."

ITV News Consumer Editor Chris Choi tweeted: "Birmingham family with 2 young children welcomes cut in air passenger duty."

"They will save £170 on planned flight to Dubai."

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IFS: Autumn Statement means 'colossal cuts'

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