A senior politician says he’s “apprehensive” about what Chancellor George Osborne will throw Cumbria’s way in his autumn statement.
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He’s set to promise the “largest housebuilding programme since the 1970s” with hundreds of thousands of “affordable houses” being built – but will they really be affordable?
Due to the government spending more than it earns, it has to borrow from the global money markets which adds to the country’s overall debt.
George Osborne, a possible successor to Prime Minister David Cameron and his de facto deputy, is aiming to eliminate Britain’s budget deficit and run a surplus by the end of the current parliament in 2020. Some £2.3 billion has been earmarked for the properties, which will have a maximum value of £250,000 outside of London and £450,000 in London.
The Spending Review will set out how £4 trillion worth of taxpayers’ money will be spent over the next five years.
“However you look at it, the Combined Spending Review and Autumn Statement 2015 holds no great hope for the North East”, he said.
Precisely because we are making hard decisions in other parts of our budget, we can give our military more kit, we can increase our counter-terrorism budget by 30 percent and we can also take action to prevent guns coming into this country and deal with gunmen on the streets, he said in an interviews.
The shared ownership homes will allow people to buy a share in their home and then buy more shares over time as they can afford it. The Government will provide £4bn to help housing associations, local authorities or the private sector deliver these by 2020-21.
£200m for 10,000 new homes that tenants can live in for five years at reduced rents while they save for a deposit.
There have been warnings over the effect of further reductions in police spending, with one of the UK’s most senior police officers saying cuts could jeopardise the UK’s response to a Paris-style attack.
Its vulnerability seems higher this year than any previous year under Mr Osborne’s chancellorship, in light of his pledge at the last Budget to tackle “tax imbalances”.
“Rather than rate them on what they say they will do, people will judge them on what they’ve actually done”.
The Chancellor is today expected to announce £150m in new cash to start rolling out an “Oyster card for the north”.
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Osborne is expected to prioritize defense spending, the National Health Service (NHS), housing and foreign aid, with other services including police, transport, justice and the environment sacrificed to make up the shortfall.
