Osborne sets Autumn Statement date

The Autumn Statement will be delivered on Wednesday December 3, the Chancellor has told MPs.

Chancellor George Osborne will make his Autumn Statement in the Commons on December 3
Chancellor George Osborne will make his Autumn Statement in the Commons on December 3

George Osborne revealed the date during the regular Treasury questions session in the Commons.

He said: "The core purpose of the Treasury is to ensure the stability and prosperity of the economy. That is delivered by our long-term plan and I can tell the House the plan will be further expanded on at the Autumn Statement, which I will deliver on Wednesday December 3."

The Autumn Statement is the second annual opportunity for the Chancellor to make major announcements on spending and present forecasts to Parliament on how the economy is expected to do in the coming years.

This year's statement will lay the groundwork for Mr Osborne's final budget before the 2015 General Election, which takes place in May.

Mr Osborne's statement was met with a small cheer from the Tory benches.

At last year's Autumn Statement, delivered on December 5, Mr Osborne predicted the Government's budget would be back in surplus by 2018 as he announced significant increases to growth forecasts.

The Chancellor also confirmed a further freeze in petrol duty and detailed a rollback in green levies on energy bills.