George Osborne makes Autumn Statement

The video discusses the fiscal challenges faced by Chancellor George Osborne, focusing on his two main targets: eliminating the structural deficit and reducing national debt as a percentage of GDP by 2015-16. The potential failure to meet these targets could lead to increased austerity measures affecting households and businesses. The economic outlook remains bleak, with disappointing growth figures and slower-than-expected tax receipts, necessitating further austerity. The video highlights the broader implications of these fiscal policies on society.

What are the two main fiscal targets that George Osborne is trying to achieve?

• Enhance public sector wages and reduce inflation

• Boost exports and decrease imports

• Increase national savings and reduce unemployment

• Eliminate the structural deficit and reduce national debt as a percentage of GDP

Why might the government need to impose more austerity measures?

• To increase public sector wages

• To meet fiscal targets if they are not achieved

• To boost the tourism industry

• To reduce the national savings rate

What change is expected to make life easier for the public according to the Chancellor?

• A spike in the 3% increase in fuel duty

• A reduction in VAT

• An increase in public sector jobs

• A decrease in income tax

What has been the trend in economic growth figures since the March budget?

• They have shown significant improvement

• They have disappointed

• They have remained stable

• They have exceeded expectations

How does the current situation compare to the Labor government's handling of borrowing rules?

• The current government has stricter rules

• The Labor government had no borrowing rules

• The Labor government took longer to break their rules

• The current government is more successful