A DRIVE to support the high street was one of the main focuses of George Osborne’s Autumn Statement.

The Chancellor this morning revealed a number of measures that he claimed were aimed at supporting independent retailers.

While he did not introduce a much called for review of the business rates system, Mr Osborne did reveal that rate rises will be capped at two per cent rather than being linked to inflation, with businesses being able to pay over 12 monthly instalments.

He also extended a scheme offering relief to small business that was due to end in April.

In support of small retailers the Chancellor revealed from next year there will £1,000 for each business with premises of a rateable value up to £50,000 to offset against their rates.

He also outlined the introduction of a new “re-occupation relief” which will half business rates for those moving into and reopening empty premises.

In a bid to make it cheaper for businesses to employ young people Mr Osborne abolished National Insurance contributions for under-21s earning below £813 per week from next year.

As expected Mr Osborne revealed the state pension age will increase to 68 in the mid-2030s and to 69 in the late 2040s.

Current pensioners will be given a weekly rise of £2.95 from April.

The chancellor announced overall welfare spending will be capped, though pensions will be excluded.

New for those seeking work will a requirement that people unemployed for more than six months will have start a traineeship, take work experience or do a community work placement or face losing benefits.

Also anyone aged 18 to 21 claiming benefits without basic English or Maths will be required to undertake training from day one or lose their entitlement.

Changes in education include free school meals for all children in reception classes, year one and year two.

The Chancellor also extended the number of university places by 30,000 next year, with the cap to be lifted completely in 2015 to allow more people to go into higher education.

As well as providing extra funding for science, technology and engineering courses, Mr Osborne announced there will be an extra £40 million to increase the number of people starting higher apprenticeships by 20,000.

Other points from the Autumn Statement include: - A rise of personal income tax allowance to £10,000 from April next year.

- The introduction of capital gains tax on sales of UK properties by non-residents from April 2015. It will then increase by the Consumer Prices Index (CPI) measure of inflation in future years, starting from 2015-16.

- A tax break for married couples and civil partners, worth up to £200 per couple, from £2015.

- The regulation of train fares ensuring rises are in line with inflation rather than 1 per cent above RPI as planned.

- The abolition of tax discs in vehicles as an electronic system is to replace the monitoring of vehicle taxation.

- The introduction of reforms to save the average energy bill payer £50 - A new tax relief for investment in social enterprises and new social impact bonds from April.

- £100 million in LIBOR fines will be made available to military charities and those supporting police, fire and ambulance services