George Osborne's autumn statement 2011: live coverage

- 2011 growth forecast cut to 0.9%- Pension age to rise to 67 by 2028- Bank levy increased to 0.088%, raising £2.5bn- OBR predicts 710,00 public sector job losses by 20174.34pm: The TUC is saying that public sector workers are being asked to accept the equivalent of a 16% pay cut. This is from Brendan Barber, the TUC general secretary.None of the Chancellor's post-election assumptions have turned out to be true. Growth has stalled, the Eurozone has crashed, the structural deficit is bigger than previously thought and unemployment continues to rise as the private sector fails to take up the public sector slack.The Chancellor's stubborn determination to stick to his plan A despite the evidence that it is not working and won't work in the future means that we are locked into permanent austerity.Of course there were some welcome moves in the statement as the Chancellor tries to reinvent infrastructure spending, youth employment and regional assistance programmes. But the catch is that the