The Treasury and three other departments – Communities
and Local Government, Transport and Environment – have agreed to slash spending
by 8% per year until the end of this Parliament, chancellor George Osborne is
expected to announce. According to media reports, the four departments are the
first to agree to the steep cuts ahead of the Spending Review on 25 November,
where Osborne will outline £20bn of savings for this Parliament. The cutback –
an overall average of nearly 30% of existing budgets over this Parliament – is
in line with the chancellor’s modelled savings announced in July, where he
asked departments to look into scenarios of 25% and 40% reductions. Read more
on the Public Sector Executive website.
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