acting as a good customer in the economy, which sets the tone for other large businesses. plan chemicals so this is a penalty, if you are try to get a government contract you are try to get a government contra - , you are try to get a government contra - , ,, , , you are try to get a government contra - , ,, contract they will say, unless you have been contract they will say, unless you have been paying contract they will say, unless you have been paying suppliers - contract they will say, unless you | have been paying suppliers within the promised time, we are not interested in doing business with the does that go far enough? that s only if you are tendering for a government contract. we only if you are tendering for a government contract. we hope they will brina government contract. we hope they will bring back government contract. we hope they will bring back the government contract. we hope they will bring back the name government contract. we hope they will b
good evening from hull. we are at the streetlife museum, which celebrates this great port city s economy and transport. we ve been listening here to the chancellorjeremy hunt in his autumn statement unveiling his tax and spending plans for the year ahead including measures affecting the take home pay and household budgets of millions of people. we ll hear from our political editor chris mason and our economics editor faisal islam, and our cost of living correspondent colletta smith is here in hull with me. but first, let s look at some of the measures announced. there ll be tax cuts including a cut in national insurance from 12% to 10% for 27 million people. the state pension will increase by 8.5%, and universal credit and disability benefits will rise by 6.7%. but those on welfare must take a work placement if they are still looking for a job after 18 months or risk losing their benefits. and the overall picture for growth is gloomy the independent watchdog, the obr,
good evening from hull, where on the day ofjeremy hunt s autumn statement we ve been talking to people here, about how they feel the chancellor s plans will affect them. we are at the street life museum which celebrates this great port city s economy and transport and from here we ll be assessing jeremy hunt s tax and spending plans for the year ahead including measures affecting the take home pay and household budgets of millions of people. there ll be tax cuts including a cut in national insurance from 12% to 10% for 27 million people. the state pension will increase by 8.5% and universal credit and disability benefits will rise by 6.7%. but, those on welfare must take a work placement if they are still looking for a job after 18 months or risk losing their benefits. and the overall picture for growth is gloomy the independent watchdog the obr says its forecasts for growth are sharply lower than predicted and that s for the next two years. the obr also says that
they re making what the government wants them to make, lacheses volt. in a statement today, the they defended the bail-out. saying, the auto industry rescue helped save 1 million jobs throughout the heartland and expected to cost far less than many feared in the height of the crisis. i think there is real fuzzy math going on there. at the same time he put 100,000 jobs on the chopping block closing more than 2,000 dealers in a matter of months. indeed, 2200 dealerships were shut down as part of the bail-out. point governor romney who pushed for a managed bankruptcy of the auto industry drove home in this recent ohio tv ad. i received a letter from general motors. they were suspending my credit line. 30 some employees out of work. my wife and i were the last ones there. g.m. closed down at 21.20. with the government owning 500 million shares of g.m. stock, it d have to sell at it $53 a share to break even. that is more than double today s price. complicating g.m. future is