FTSE 100 rises ahead of Autumn Statement
The FTSE 100 has started the day's trading off on the right foot this morning (December 5th) ahead of George Osborne's much-anticipated Autumn Statement, which he is due to deliver this afternoon.
It is widely expected that the tone of the address will be stoical, after the chancellor stated there would be "no miracle cure" for solving the UK economy's economic problems.
Treasury sources claim the Statement will divulge how £1 billion will help build new schools and academies, while government sources say front-line services will be protected from the squeeze.
Alongside Mr Osborne's speech, the Office for Budget Responsibility is anticipated to downgrade its growth projections, reflecting the fact the government announced last week that it would take the nation longer than first thought to meet its deficit reduction targets.
Labour has branded the Conservative-Liberal Democrat coalition's economic policy "a terrible failure".
At 09:50 GMT, the FTSE 100 rose by 0.4 per cent to an index value of 5897.7 points.
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