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George Osborne will unveil £83bn of spending reductions to tackle the deficit today, which will see nearly 500,000 public sector jobs culled over the next four years.
In a statement to the Commons this afternoon the chancellor will reveal the details of the coalition's long awaited Comprehensive Spending Review (CSR), which will see government department's budgets cut by around 25 per cent each.
The announcement comes the day after the prime minister told MPs of an 8 per cent cut to the budget of the armed forces.
While the NHS and Department for International Development have had much of their budget ring-fenced as a result of the Conservatives election promises, it is likely they will be asked to make efficiency savings.
The Ministry of Justice and the Department of Work and Pensions are expected to be hit heavily, while Michael Gove's Department of Education may get of relatively lightly.
The CSR is a result of months of tense negotiations in Whitehall, with reports of rows between ministers and the Treasury having taken place including between work and pensions secretary Iain Duncan Smith and Osborne.
A series of nationwide protests are expected today as Osborne prepares to announce one of the most severe public spending cut backs ever seen.
Rallies will be held in cities including Cardiff, Newcastle, Sheffield, Barnsley, Cambridge, Southampton, Bolton, Luton and London.
Osborne's statement to the Commons is expected to follow prime minister's questions which takes place at midday.
Article Comments
Today's cuts will be tough, but the commitment to reduce spending whilst maintaining vital investment will underpin long term economic growth. Business is ready to help the public sector adjust and do more for less without affecting frontline services.
But the recommitment to Crossrail and Tube improvement is a vital signal that London is open for business and equipping itself for growth.
Baroness Valentine, London First
20th Oct 2010 at 12:43 pm
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