Chancellor George Osborne has set out the state of the economy in the Autumn Statement and spending plans for the next four years in the Spending Review. Here are the main points:

Spending Review headlines

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Planned £4.4bn cuts to tax credits watered down, with changes to income thresholds and taper rates due in April abandoned

Office for Budget Responsibility says public finances set to be £27bn better off by 2020 than forecast

Government expected to borrow £8bn less than forecast as it aims to secure £10.1bn budget surplus by 2020

Total spending to rise from £756bn this year to £821bn by 2019-20

State spending - as a share of total output - to fall to 36.5% in 2020, down from 45% in 2010

Overall day-to-day departmental spending to be cut by £20bn, equivalent to 0.8% of total expenditure each year by 2020

Policing, health, education, international aid and defence budgets protected

Transport, energy, business and the environment among biggest losers, resource budgets falling by 37%, 22%, 17% and 15% respectively

Police, security and justice

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No real-terms cuts in police budgets in England and Wales, with spending to rise by £900m by 2020

Forces expected to make efficiency savings by sharing resources

Holloway women's prison in London to close as part of modernisation of estate, including nine new prisons

Underused courts to be sold off, raising £700m for new technology

Defence budget to rise from £34bn to £40bn by 2020, with extra cash for the security services

Overseas aid budget to increase to £16.3bn by 2020, while Foreign Office budget protected in real terms

Welfare and tax credits

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£12bn in targeted welfare savings to be delivered in full but government to breach overall welfare cap in first years of Parliament

Two-child limit on child tax credit claims to go ahead from April 2017

Family element of tax credits to be scrapped for new claimants

Housing benefit for new social tenants to be capped at same level as private sector

Housing benefit and pension credit payments to be stopped for people who leave the country for more than one month

Department of Work and Pensions budget to be cut by 14%

Some job centres to be co-located in council buildings

Conditions for benefits to be extended to more than one million more claimants

Health

Health budget in England, currently £101bn, to rise to £120bn by 2020-21

The NHS in England to get upfront cash injection of £3.8bn next year as part of £8bn added funding between 2015-6 and 2020-2021

NHS in England expected to make £22bn in efficiency savings while Department of Health resource budget to fall by 25%

An extra £600m earmarked for mental health services

Grants for student nurses to be scrapped and replaced by loans

Cap on training places for nurses scrapped, with goal of increasing numbers by 10,000

New social care "precept" in council tax of up to 2% to allow local councils to raise £2bn for social care

Better Care Social Fund to be increased by 1.9%

£15m raised from charging VAT on sanitary products to be given to women's health charities

Education

Schools budget in England protected in real terms

Total education budget to rise by £10bn by 2020

School funding formula in England to be phased out

New 30-hour free childcare subsidy for parents of three-and four-year-olds to be limited to those working more than 16 hours a week

Only those earning less than £100,000 will be eligible for the subsidy from 2017

Sixth-form colleges allowed to become academies

Funding for Further Education colleges to be "protected in cash terms"

Housing and local government

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New 3% surcharge on stamp duty for buy-to-let properties and second homes from April 2016, raising about £1bn

Restrictions on shared ownership to be removed and planning system reformed to deliver more homes

London Help-to-Buy scheme to offer interest-free loan worth up to 40% of the value of a newly built home

Plans to hand £2.3bn to private developers to build 400,000 new homes in England

Local government to keep all revenue from business rates by the end of the Parliament

Councils to receive extra £10m to help homeless people

Local government spending, in cash terms, to be same in 2020 as 2015

Business, science, energy and the environment

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26 new enterprise zones to be created or extended

Uniform business rates to be abolished, with councils and elected mayors allowed to cut or raise rates under certain conditions

Councils to keep all business rates income by 2020 with central block grant phased out

Science budget to rise in real terms to £4.7bn

Apprenticeship levy set at 0.5% of employer wage bill, with £15,000 allowance for eligible firms

Funding for flood defence to be protected in real terms

Scheme to develop "carbon capture and storage" technology at power stations axed

Energy Companies Obligation to be replaced in March 2017 and Renewable Heat Incentive cut by £700m

Big energy users such as the steel and chemicals industries to be exempt from environmental tariffs

Pensions, savings and personal taxation

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State pension to rise by £3.35 a week to £119.30 next year

Savings credit to be frozen at current level

Every individual and small business to have their own digital tax account by the end of the decade

Infrastructure, transport and culture

Image copyright Getty Images Image caption Almost 6,000 lorries can be held on the M20 during Operation Stack

Capital funding of transport projects to rise by 50% by 2020

£250m support for motorways and other roads in Kent to relieve pressure caused by Operation Stack

Electrification of the Trans-Pennine, Midland Mainline and further sections of the Great Western Railway to go ahead

Culture department to see funding cut by 5%

Extra cash for the Arts Council and UK Sport

Free museum entry to be maintained

State of the economy and borrowing

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Growth of 2.4% forecast for 2015-6, unchanged from July's Budget

Forecast growth in 2016-7 and 2017-8 revised up to 2.4% and 2.5% respectively

Borrowing forecast to total £73.5bn this year, falling to £49.9bn, £24.8bn and £4.6bn in subsequent years before hitting surplus in 2019-20

Debt as a share of GDP forecast to fall to 82.5% in 2015-16, before dropping to 81.7%, 79.9%, 77.3%, 74.3% and 71.3% in subsequent years

2015 Spending Review and Autumn Statement

Presented by Chancellor George Osborne, the Spending Review sets out what government spending will be over the next four years, while the Autumn Statement is an annual update of government plans for the economy.

Explained: Which government departments will be affected?

Analysis: From BBC political editor Laura Kuenssberg

Special report: Full in-depth coverage of the Spending Review and Autumn Statement