OBR

Savers unaware of tax implication in lump sum withdrawals

Lower inflation, driven by a fall in oil prices, has helped the Office for Budget Responsibility (OBR) upgrade UK growth forecasts for 2015 and 2016 and given the government room to move on near-term borrowing.

Chancellor George Osborne revealed a raft of fiscal changes in the final Autumn Statement of the current parliament. Here we look at some of the winners and losers from the dispatch box announcements...

Sterling has fallen back below $1.69 after worse-than-expected borrowing figures disappointed those investors hoping for further confirmation the economy is back on track.

The Office for Budget Responsibility (OBR) has raised its forecast for UK economic growth this year as the recovery continues to gather pace.

George Osborne is potentially facing a £20bn black hole in the public purse when he delivers the next Budget, according to a re-creation of government models put together by the Financial Times.

STATE PENSION

The cost of dealing with the country's ageing population will increase government spending by about 4% of GDP - or £61bn in today's terms - by the 2060s, according to government projections.

High earning workers will shift about £5bn into the new tax year to take advantage of the cut in top rate tax, the Sunday Times reports.

BUDGET 2013