The background to this statement and spending review was that the forecast for growth had been upgraded by the Office for Budget Responsibility.

The figures for growth up to and including 2020 would lead to an extra one million jobs and a Budget surplus in 2019/2020.

This enabled the Chancellor, George Osborne, to do lots of things and undo others that had not seemed possible back in July.

For example, last week in my preview of the autumn statement in Business Argus, I said that the Chancellor would have to do something about Working Tax Credits, but he went further than I or anyone else expected. No cuts. This was a U-turn by any definition but also a shrewd political manoeuvre.

I also referred to the additional expenditure on the security services and the military budget generally.

That also has happened.

Added to this was a firm 'No' to police cuts, the announcement of which received the loudest cheer from Conservative back benches.

Some new announcements included changes to stamp duty on buy-to-lets and second homes.

This is to prevent the further dominance of distant landlords in holiday areas, such as Cornwall and Pembrokeshire. The hope is that this will free up more property for local buyers. It remains to be seen whether this will be effective. This does not affect properties bought for holiday lettings.

The State pension is to be increased and the new, single tier pension will start in April 2016 at a rate of £155.65, subject to qualifying criteria. There is a wealth of small print connected to this so be warned that it may not affect everyone.

ISAs and Junior ISA rates will not be increased in April.

As usual, there was a section about Tax Avoidance. Successive Chancellors have deliberately muddied the waters between tax evasion, which is illegal, and tax avoidance, which is legal. It started, as with many destructive ideas, with Gordon Brown, in his first budget of July 1997.

I practice tax avoidance, on behalf of my clients every day, because it’s legal. ISAs avoids tax, Pensions avoid tax. Inheritance Tax can be legally avoided with careful financial planning. As stated by a High Court Judge “There is no reason whatsoever, why a citizen may not order his affairs so as to pay as little tax as legally possible”.

The success of this autumn statement will be judged depending on the accuracy of the forecasts on which the Chancellor has based his decisions.